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Stocks to watch: ThaiBev, Noble, mm2 Asia, Ayondo
THE following companies saw new developments which may affect trading of their shares on Wednesday:
Thai Beverage Public Co: The Thailand-based drinks maker's third-quarter net profit fell 61 per cent to 5.99 billion baht (S$247.9 million) on weaker profitability in the spirits, beer and non-alcoholic beverage businesses. Revenue rose 34 per cent to 60.71 billion baht from 45.9 billion baht for the corresponding quarter of the previous year. Shares closed at S$0.70 on Tuesday before results were announced.
Noble Group: The beleaguered commodity trading company posted a net loss of US$128.3 million for the second quarter ended June, narrowing its year-ago loss of US$1.75 billion. Revenue fell 29 per cent to US$1.12 billion from US$1.58 billion. Noble said its results were impacted by expenses associated with the proposed financial restructuring and finance costs on existing senior debt.
mm2 Asia: The entertainment company's first-quarter net profit rose 13.2 per cent to S$7.2 million as it recorded new contributions from its Lotus Fivestar Cinemas and Cathay Cineplexes assets.
Ayondo: The social trading platform operator saw its second-quarter net loss double to three million Swiss francs (S$4.1 million) as trading revenue dipped. Although Ayondo's number of active clients for the second quarter grew 6 per cent from a year earlier to 24,246, trading revenue slipped 9 per cent to 4.7 million francs. Average revenue per active client dipped 15 per cent to 193 francs.