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Stocks to watch: Sakae Holdings, Epicentre, Kitchen Culture
THE following companies saw new developments that may affect trading of their shares on Thursday:
Sakae Holdings: Reduced operating expenses due to the group's write-back of its impairment loss on its investment in its associate companies, Griffin Real Estate Investment Holdings and Gryphon Capital Management, and reduction in rental, utilities and other expenses resulting from its rationalisation exercise, lent a boost to results for Sakae Holdings for its fourth quarter. Net profit was S$1 million, a reversal from a net loss of S$12.6 million in the preceding year, the group said in a Singapore Exchange filing on Wednesday evening.
Epicentre: Epicentre Holdings fell into the red for the year ended June 30 with a net deficit of S$7.1 million, or 4.43 Singapore cents per share, from a year-ago profit of S$507,000 as it lost money from its Apple-related businesses, the reseller announced late on Wednesday. Continuing operations contributed a net loss of S$3.1 million, or 1.92 Singapore cents per share. Discontinued operations, which include the Singapore Apple-related business, posted a net loss of S$4.0 million, or 2.51 Singapore cents per share, for the period. Revenue from continuing operations fell 30.5 per cent to S$18.35 million, largely from an S$11 million decline in revenue from the Malaysian operations, which lost their Apple Premium Reseller status.
Kitchen Culture: Kitchen Culture on Thursday posted revenue of S$14.5 million for its fiscal year ended June 30, 2018, compared with S$49.6 million for the 18-month financial period from Jan 1, 2016 to June 30, 2017, as the group is in the midst of changing its financial year-end from December to June. Besides the shorter reporting period, the company also attributed the lower turnover to lower revenue contribution from the residential projects segment due to fewer projects on hand, as well as from the distribution and retail segment due mainly to slowdown in retail sales. Earnings wise, It incurred a net loss of S$3.8 million, compared to a net loss of S$6.9 million for the prior 18-month period.