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Stocks to watch: Boustead, Cortina, EuroSports, CSC
THE following stocks had announcements that could affect trading activity on Wednesday.
Boustead Singapore on Tuesday reported a 30 per cent slide in net profit to S$17.9 million for the fourth quarter ended March 31, 2015, amid a challenging operating environment. Revenue was also lower, down 14 per cent year on year to S$122.3 million due to lower revenue across most segments. Earnings per share came to 3.4 Singapore cents, down from five Singapore cents previously.
Cortina Holdings on Tuesday said it posted a 28.5 per cent surge in its fiscal fourth-quarter net profit to S$6.7 million. The better profit came on the back of price adjustments by some watch brands, the appreciation of the Swiss franc and sales ahead of Malaysia's implementation of the goods and services tax. Total Q4 revenue stood at S$122.7 million, a 7.5 per cent increase from the same quarter in 2014, as a result of the group's continued expansion.
EuroSports Global on Tuesday announced a net loss of S$4.02 million for the fiscal year ended March 31, 2015, compared to a net profit of S$17.02 million a year ago, dragged down by poorer gross margin, lower sales of new automobiles, a fall in the group's watch distribution and retail business, as well as higher expenses. The weaker results came despite a 1.6 per cent rise in revenue to S$40.37 million for FY2015. The group said it expects the 12 months ahead to be challenging. It said it is looking to open a new Lamborghini display and retail store at Suntec City Mall by end-2015.
CSC Holdings on Tuesday said it chalked up a net loss of S$9.03 million for the fourth quarter ended March 31, 2015, against a net profit of S$533,000 a year ago, due in part to impairment losses on plant and equipment. This is against a 3.4 per cent rise in revenue to S$115.03 million. Loss per share came to 0.75 Singapore cent, against earnings per share of 0.04 cent previously.