Stocks to watch: Sats, NetLink, Paragon Reit, Far East Hospitality Trust, First Reit, Food Empire

THE following companies saw new developments that may affect trading of their securities on Tuesday (Feb 14):

Sats : S58 0%: The inflight caterer and ground handler saw a reversal in net profit to S$500,000 for its third quarter ended Dec 31, 2022, from its previous two consecutive quarters of losses. However, the result for the period was still 90.2 per cent lower compared to the previous year, mainly due to merger and acquisition costs, the company said on Monday. Shares of Sats closed at S$3, down 1 per cent or S$0.03 on Monday before the news. 

NetLink Trust : CJLU 0%: The fibre network infrastructure provider announced on Monday an increase of 24.2 per cent to S$81.8 million in its profit after tax for the nine months ended Dec 31, 2022. The company’s revenue also rose 6.5 per cent to S$299.8 million, driven mainly by higher ancillary project revenue, non-building address points and segment connections revenue, as well as residential connections revenue.  Shares of NetLink ended flat on Monday at S$0.855 before the news. 

Paragon Real Estate Investment Trust (Reit) : SK6U 0%: The Reit’s distribution per unit(DPU) remained unchanged from the previous year at 1.72 Singapore cents for the four months ended Dec 31, 2022. Its annualised yield stands at 5.7 per cent, with the DPU for the 16 months ended Dec 31, 2022, at 7.24 Singapore cents, the Reit said on Monday. Units of the Reit ended Monday at S$0.97, up 0.5 per cent or S$0.005 before the news. 

Far East Hospitality Trust (FEHT) : Q5T 0%: Its distribution per stapled security (DPS) for the half-year ended Dec 31, 2022 rose 13.1 per cent to S$0.0173, said the manager on Tuesday. The higher DPS was boosted by higher net property income, lower finance expenses and sharing of divestment gains, which came on the back of improving operational performance and a positive recovery outlook for the hospitality sector. Stapled securities of the trust ended flat on Monday at S$0.665.

First Reit : AW9U 0%: The healthcare-focused Reit reported a DPU of S$0.0066 for the fourth quarter ended Dec, 31, 2022. Its quarterly DPU has remained unchanged since the fourth quarter of 2021. Units of First Reit ended flat on Monday at S$0.275 before the news. 

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Food Empire : F03 0%: The food and beverage manufacturer reported on Monday expectations of a substantially higher profit after tax for FY2022 compared to the previous year. The increase was driven primarily by better operating profit and a one-off gain from the disposal of a non-core asset, the company said. Shares of Food Empire closed at S$0.775, up 1.3 per cent or S$0.01 on Tuesday after the news. 

Elite Commercial Reit : MXNU 0%: Its DPU for the half year ended December 2022 fell 19.6 per cent to 2.25 pence from 2.8 pence in H2 FY2021. Revenue and net property income declined as a result of two vacant investment properties, said the manager on Tuesday. Units of Elite Commercial Reit closed half pence or 0.9 per cent lower at 52.5 pence on Monday.