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Stocks to watch: HRnetGroup, GS Holdings, CDW Holding, United Food Holdings
THE following companies saw new developments that may affect trading of their shares on Tuesday:
HRnetGroup: HRnetGroup on Tuesday posted a 11.5 per cent fall in net profit to S$11.5 million for the second quarter, from S$13 million a year ago on the back of lower margins from flexible staffing. Gross profits were slightly lower mainly due to the inclusion of government contracts which carry lower margins, the mainboard-listed recruitment firm said. For the three months ended June 30, earnings per share were lower at 1.14 Singapore cents versus 1.29 Singapore cents a year ago. The company's shares closed up one Singapore cent or 1.5 per cent at S$0.675 on Thursday, before the long holiday weekend.
GS Holdings: Catalist-listed dishwashing firm GS Holdings on Monday reported a net profit of S$5.49 million for its financial year's first six months ended June 30, reversing from a S$1.24 million loss for the year-ago period. Revenue rose to S$15.8 million from S$5 million last year, due mainly to the receipt of service fees from 14 branding, operation and procurement service agreements entered into by its subsidiary Wish Hospitality Holdings. The agreements have an aggregate quarterly contract sum of 50 million yuan (S$10 million). Earnings per share for the half year were 3.51 Singapore cents, compared to a loss per share of 0.94 Singapore cent in the preceding year. No dividend was declared, similar to the year-ago period. GS Holdings shares last closed unchanged at 42 Singapore cents on Aug 8.
CDW Holding: Mainboard-listed consumer electronics part maker CDW Holding warned on Monday that it is likely to report a consolidated operating loss for the first six months of its financial year ended June 30, 2019. CDW said this was mainly due to lower gross profit caused by overall lower utilisation rate and higher material costs for the production of larger LCD backlight units, as well as an increase in share of losses of an associated company. CDW shares last closed unchanged at 18.4 Singapore cents on Thursday.
United Food Holdings: Mainboard-listed United Food Holdings on Monday warned that it expects a loss for its financial first quarter ended June 30, 2019, based on a preliminary review of its unaudited financial results. United Food said the net loss for the quarter was primarily due to lower income from both its trading segment and its animal pre-mixed segment. Further details of the group's financial performance will be disclosed in its results announcement for Q1, to be made no later than Aug 14. United Food shares last closed unchanged at 10 Singapore cents last Thursday.