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Stocks to watch: Hyflux, The Hour Glass, Samurai 2K Aerosol
THE following companies saw new developments that may affect trading of their shares on Wednesday:
Hyflux: Hyflux on Wednesday called for a suspension of trading in all its shares and preference shares, or perpetual securities. Trading in these securities had been halted since Monday. The highly leveraged water project developer said on Tuesday it had applied to the Singapore High Court to commence the reorganisation of its liabilities and businesses. The counter last traded at S$0.21 apiece.
The Hour Glass: The luxury watch retailer booked relatively flat profit for the full 2018 fiscal year, despite a one-off relocation expense pegged to its Australia operations. Profit attributable to owners for the year ended March 31 crept up 2 per cent to S$49.82 million from S$49.7 million the year before, on the back of a one per cent slip in revenue to S$691.65. Earnings per share rose to 7.07 Singapore cents from 6.91 Singapore cents last year. The board has declared a final dividend of 2 Singapore cents per share for fiscal 2018, subject to approval at its July 30 annual general meeting. The counter ended unchanged at S$0.655 as at Tuesday's close, before it announced its earnings.
Samurai 2K Aerosol: Catalist-listed Samurai 2K Aerosol on Tuesday said it expects "significantly higher" revenue and profit for fiscal 2018 due to stronger demand for its aerosol paint products compared to last year. Announcing its profit guidance, the company added it is still in the process of finalising its unaudited fiscal 2018 results, which will be released on or before May 30, 2018. The counter ended trading on Tuesday at S$1.47, up 2.08 per cent or S$0.03.