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Stocks to watch: Singapore Post, ST Engineering, Vard Holdings, Dasin Retail Trust
THE following companies saw new developments which may affect trading of their shares on Friday:
Singapore Post (SingPost): SingPost swung back into the black for fourth-quarter 2018, booking profit of S$23.95 million in the absence of one-off impairment charges in Q4 of the corresponding period last year. Revenue for Q4 was also up 13.5 per cent to S$367.54 million on growth in e-commerce related activities across its postal and logistics segments, SingPost said. For the full year ended March 31, 2018, SingPost clocked a profit of S$126.4 million on the back of S$1.46 billion in revenue. The board also recommended a final dividend of two Singapore cents per ordinary share.
Singapore Technologies Engineering (ST Engineering): Defence and engineering group ST Engineering posted an 18 per cent rise in first-quarter profit attributable to shareholders to S$117.7 million from S$99.9 million the year ago. Earnings per share also climbed 18 per cent to 3.78 Singapore cents, on the back of a 9 per cent bump in revenue to S$1.65 billion.
Vard Holdings: Vard said on Friday that an error in its independent financial adviser's report would not have changed the adviser's opinion, and that there should have been no confusion at its recent shareholders' meeting about whether a delisting vote was taking place.
Dasin Retail Trust: Dasin Retail Trust on Thursday announced higher distribution per unit of 1.83 Singapore cents, up 23 per cent from the previous year, for the three months ended March 31. For Q1, the trust's net property income grew 86 per cent to S$14.9 million, thanks to better operational metrics and contribution from the acquisition of Shiqi Metro Mall in June 2017. The trust clocked an 85 per cent jump in revenue to S$18.5 million.