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The Straits Trading Company reports 18.1% higher Q3 earnings

THE Straits Trading Company has recorded 18.1 per cent higher earnings for the third quarter, largely on the back of increased contributions from an enlarged property portfolio.

The Singapore-listed real estate, hospitality and resources company generated a net profit of S$14 million for the three months ended September, up from S$11.9 million in the corresponding period a year ago. 

Earnings per share (EPS) improved year-on-year from 2.9 Singapore cents to 3.4 Singapore cents.

This was in spite of a 15.9 per cent drop in revenue for the third quarter, when the company raked in S$111.1 million, down from S$132.1 million a year ago.

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No dividend has been declared.

For the first nine months, the company reported a net profit of S$57.6 million, up 39.7 per cent from S$41.2 million (restated). In contrast, the revenue for this same period dipped 4.3 per cent from S$367.2 million to S$351.3 million.

EPS for the nine-month period was 14.1 Singapore cents, up from 10.1 Singapore cents.

The counter was nine Singapore cents lower at S$2.02 when markets closed on Wednesday.