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Jumbo Group Q2 net profit up 0.3% to S$5.8m

JUMBO Group's second-quarter net profit crept up 0.3 per cent to S$5.8 million from the preceding year, the group said in a Singapore Exchange filing on Friday evening.

For the three months ended March 31, revenue dipped 0.6 per cent to S$39.4 million from the previous year. The drop in revenue was mainly due to a decline in revenue from its Singapore operations and was partially offset by a rise in revenue from its Shanghai operations, it said.

The group also announced that Ron Sim Chye Hock has been appointed as the non-executive director of the company with effect from Friday.

Earnings per share for the quarter came in at flat at 0.9 Singapore cents. Net asset value per share dipped to 9.7 Singapore cents as at March 31, from 10.1 Singapore cents six months ago.

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A tax-exempt (one-tier) interim cash dividend of 0.50 Singapore cents per share for Q2 FY2017 was declared.

Jumbo Group shares closed S$0.02 or 2.985 per cent lower at S$0.65 on Friday.