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Stocks to watch: HRNetGroup, Japan Foods, Frasers Logistics Trust, Frasers Property, China Aviation Oil
THE following companies saw new developments which may affect trading of their shares on Thursday:
HRNetGroup: Continued business momentum - particularly in Singapore - for its flexible staffing business and improved performance from its professional recruitment business in North Asia lifted HRNetGroup's profit for its first quarter. Net profit rose 46 per cent to S$16.3 million from S$11.2 million in the year ago period as earnings per share grew to 1.61 Singapore cents from 1.1 Singapore cents in the previous year.
Japan Foods: Japan Foods Holding's net profit rose 67.8 per cent to S$938,000 for its fiscal fourth quarter amid better sales from its Menya Musashi ramen restaurants and new brands. On a per-share basis, profit for the three months ended March 31 increased to 0.54 Singapore cent from 0.32 Singapore cent a year earlier, the operator of Japanese-themed restaurants said on Thursday before the market opened. Japan Foods has declared a final cash dividend of 1.30 Singapore cents per share, up from a year-ago payout of 1.25 Singapore cent.
Frasers Logistics & Industrial Trust (FLT): FLT announced it successfully raised S$329 million in gross proceeds through a private placement overnight which was 3.9 times covered. Some 333.2 million units were placed at an issue price of S$0.987 per unit, a discount of 5.4 per cent to the volume-weighted average price (VWAP) of S$1.0433 per unit of trades executed on the Singapore Exchange for the full market day on May 9, 2018. It was part of FLT's latest round of equity fundraising, with the other part being a pro-rata and non-renounceable one-for-10 preferential offering exercise to existing unitholders, consisting of 152.15 million new units priced between S$0.942 and S$0.967, to be launched on May 23.
Frasers Property Limited: Frasers Property announced Q2 profit of S$124.09 million after fair value change and exceptional items, a rise of 74.2 per cent from the same year-ago period. Revenue for Q2 was S$841.74 million, a rise of 19.3 per cent from the previous year. The group declared an interim dividend of 2.4 Singapore cents per share to be paid on June 12, 2018, the same as the previous corresponding period.
China Aviation Oil: Jet fuel trader China Aviation Oil (Singapore) Corporation (CAO) posted a 13.9 per cent increase in net profit to US$26.9 million from US$23.6 million for the year ago period, it said in a Singapore Exchange filing on Wednesday evening. Earnings per share increased to 3.13 US cents from 2.75 US cents in the preceding year.