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Stocks to watch: Hatten Land, FJ Benjamin, Wing Tai, Civmec, IHH Healthcare
THE following companies saw new developments that may affect trading of their shares on Wednesday:
Hatten Land: Catalist-listed property developer Hatten Land posted a near 96 per cent drop in net profit to RM2.6 million (S$862,342) for the fourth quarter ended June 30. Revenue fell 61.5 per cent to RM50.08 million mainly attributed to lower revenue recognised for Hatten City Phase 2 project, lower sales from Vedro by the River and Hatten City Phase 1 projects in Q4. Earnings per share (EPS) came to 0.19 Malaysian sen for the quarter, versus 4.35 sens a year ago. A final dividend of 0.025 Singapore cent per share for FY2018 has been recommended. The counter closed at 16 Singapore cents on Tuesday, up 0.2 cent.
F J Benjamin Holdings: Retailer F J Benjamin narrowed losses to S$1.24 million for FY2018 from S$17.42 million in the previous financial year. Results in fiscal 2018 were weighed down by an operating loss of S$1.1 million from a discontinued brand. Revenue fell 20 per cent year-on-year to S$165.98 million due to the discontinued business, while loss per share (LPS) came to 0.18 Singapore cent, versus a LPS of 2.92 cents a year ago. The counter closed at 3.7 Singapore cents on Tuesday, down 0.2 cent.
Wing Tai Holdings: The property and retail group delivered a net profit of S$129.8 million for the fourth quarter ended June 30, up from S$9.5 million a year ago. Results were driven by a 258 per cent gain in share of profits of associates and joint venture companies. Revenue for Q4 also rose 80 per cent to S$105.8 million, propelled by higher contributions from development properties. EPS stood at 16.57 Singapore cents for the quarter, up from 1.22 Singapore cents a year ago. The group has declared a first and final dividend of three Singapore cents, and a special dividend of five Singapore cents. Wing Tai shares finished at S$2 apiece on Tuesday, down two Singapore cents.
Civmec: The construction and engineering group which is dual-listed in Singapore and Australia, has posted a net profit of S$8.34 million for the fourth quarter, up 772.5 per cent from S$956,000 for the same period a year earlier. Earnings were lifted by higher revenue contributions from existing contracts which came online during the period. Revenue for the three months ended June 30 jumped 130.7 per cent to S$225.47 million. A first and final dividend of 0.7 Singapore cent was declared, unchanged from last year. Q4 EPS was 1.66 Singapore cents, up from 0.19 Singapore cent last year. The counter closed at 55 Singapore cents on Tuesday, down one Singapore cent.
IHH Healthcare: The private healthcare provider's Q2 net profit fell 48 per cent to RM165.11 million (S$54.9 million) in the absence of a one-off divestment gain that was chalked up for the corresponding quarter a year ago. Q2 FY2017 included a one-off gain of RM241.1 million from the divestment of Apollo Hospitals. For the three months ended June 30, revenue dipped 4 per cent to RM2.66 billion, due to the strengthening of the Malaysian ringgit against the currencies in other countries in which IHH operates. IHH shares closed at S$1.85 on Tuesday, down one Singapore cent.