Straits Trading's Q2 earnings quadruple to S$33.9m

HIGHER income from its investments, which included S$20 million in interest income and a fair value gain in investment properties of S$14.6 million, boosted results for Straits Trading Company in its second quarter.

Net profit leapt four-fold to S$33.9 million from the previous year, the group said in a Singapore Exchange filing on Tuesday evening.

For the three months ended June 30, revenue increased 14.5 per cent to S$116.3 million from the previous year. The gain in revenue was due to higher turnover from its resources and real estate segments, it said.

Earnings per share surged to 8.3 Singapore cents from 2.1 Singapore cents in the year-ago period. Net asset value per share dipped to S$3.55 as at June 30, from S$3.62 six months ago.

Straits Trading shares ended one Singapore cent or 0.5 per cent lower at S$2.01 on Tuesday.