Corporate digest

Grand Venture Technology

CATALIST-LISTED manufacturing-service provider Grand Venture Technology on Monday posted a first-quarter net profit after tax of S$3.3 million - more than five times higher than S$622,000 in the preceding year.

This was due to a 59 per cent rise in revenue to S$23 million, growing wallet share from its key customers as well as stronger gross profit margins, said the group in a business update.

SIIC Environment Holdings

MAINBOARD-listed SIIC Environment Holdings on Monday posted a 23.1 per cent rise in first-quarter net profit to 160.1 million yuan (S$33.1 million), from 130.1 million yuan the previous year.

Revenue rose 54 per cent to 1.62 billion yuan, from 1.05 billion yuan in the prior year, boosted by revenue growth across all its businesses, particularly in construction income.

Fraser and Neave

BEVERAGE and publishing company Fraser and Neave (F&N) on Monday posted a 16.1 per cent rise in net profit to S$83.4 million for the half-year ended March 31, 2021.

Revenue increased 2 per cent to S$988.6 million. This was due to higher volumes in the beverages - comprising soft drinks and beer - and dairies segments in the food and beverage division, which recorded a 3 per cent rise in revenue to S$868.1 million.

SBS Transit

IN A business update, transport operator SBS Transit posted a profit after tax of S$23.3 million for the first quarter ended March 31, 2021, more than doubling from S$11.1 million the year before. Revenue fell 6.5 per cent to S$317 million but operating profit increased 70.9 per cent to S$24.9 million. Without Covid-19 government reliefs, operating profit would have fallen 52.5 per cent to S$6.3 million.

Singapore Medical Group

CATALIST-listed Singapore Medical Group (SMG) announced on Monday a 22.2 per cent increase in first-quarter net profit to S$3.8 million from S$3.1 million in the previous year, due to a surge in demand for the group's aesthetics, Lasik and diagnostic imaging-related services.