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Stocks to watch: GLP, Neo Group, Perennial Real Estate
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Global Logistic Properties (GLP): GLP on Tuesday posted a 28.9 per cent fall in net profit to US$144.2 million for the first quarter ended June 30, down from US$202.9 million a year ago. Revenue rose by 26.7 per cent to US$261.8 million, due mainly to the revenue from financial services in China and the completion of development projects there. No dividends have been declared for the period.
Neo Group Limited: The mainboard-listed caterer on Tuesday reported a 74 per cent narrowing of net loss to S$0.65 million for the first quarter ended June 30, from a net loss of S$2.5 million a year ago. No dividends were declared for the period.
Perennial Real Estate Holdings: The Singapore developer on Tuesday announced a net profit of S$17.1 million for the second quarter ended June 30, up from S$0.6 million a year ago. However, revenue fell 25.9 per cent to S$17.9 million, due mainly to lower project management fees, and the absence of revenue from TripleOne Somerset. No dividends were declared for the period.