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Stocks to watch: BreadTalk, SembMarine, Trendlines, Lee Metal, BRC Asia
THE following companies saw new developments that may affect trading of their shares on Thursday:
BreadTalk Group: Lifestyle food and beverage group BreadTalk Group on Thursday reported record earnings of S$21.8 million for the full year ended Dec 31. This marked a 91 per cent jump from S$11.4 million previously. Earnings per share came in at 7.76 Singapore cents, well up on the 4.07 Singapore cents previously. BreadTalk has recommended a dividend of seven Singapore cents for the full year, 81.8 per cent higher than the 3.85 Singapore cents paid out in 2016. Shares of BreadTalk closed 1.2 per cent or two Singapore cents higher at S$1.70 on Wednesday.
Sembcorp Marine (SembMarine): SembMarine sank into the red in the fourth quarter with a net loss of S$33.78 million, reversing from a net profit of S$34.29 million in the corresponding period a year earlier. Turnover for the three months ended Dec 31 fell 21.1 per cent to S$655 million, mainly due to lower revenue recognition for rigs and floaters, and offshore platform projects. Loss per share for the quarter came in at 1.62 cents, from an earnings per share of 1.64 cents a year earlier. The board is recommending a final ordinary dividend of one cent per share. This brings the total dividend for the 2017 financial year to two cents, from 2.5 cents previously. SembMarine last traded at S$2.63 apiece on Wednesday.
Trendlines Group: Trendlines swung to a profit of US$3.95 million for the full year ended Dec 31, 2017, from a net loss of US$6.6 million in 2016, on the back of fair value gains to its investments in portfolio companies. Earnings per share was one US cent, up from a one US cent-per-share loss a year ago. Net asset value per share stood at 15 US cents as at Dec 31, 2017, unchanged from the previous year. The stock last traded at 14.1 Singapore cents apiece on Wednesday, up 0.1 Singapore cent or 0.71 per cent.
Lee Metal Group, BRC Asia: Lee Metal Group has requested the lifting of its trading halt on Thursday morning, following BRC Asia's announcement to take over the company on Wednesday. Steel prefabrication firm BRC Asia is offering to buy fellow steel player Lee Metal at an offer price of 42 Singapore cents for each share, with the aim of delisting the company if it achieves the requisite acceptances. BRC Asia had on Wednesday evening requested for the lifting of its trading halt as well. Lee Metal last traded at S$0.41 apiece on Tuesday, while BRC Asia closed at S$1.31 apiece on Tuesday.