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Stocks to watch: Triyards Holdings Limited, CapitaLand Mall Trust
TRIYARDS Holdings Limited has swung into the red with a net loss of US$63.3 million in its third-quarter results, primarily due to impairment of assets, lower revenue contribution and cost overruns from certain projects.
The firm, which provides engineering, fabrication and ship construction solutions for the global offshore and marine industry, recorded a loss per share of 20.79 US cents for the nine months ended May 31, 2017. Year-on-year, earnings per share was 4.79 US cents.
For the three months ended May 31, 2017, Triyards' revenue stood at US$30.9 million, a 62 per cent decrease from a year ago.
Triyards said that "prolonged weakness in the marine, shipping, oil and gas industries and extremely competitive market environment" led to lower gross profit margins and provision for impairment of assets resulted in losses for the third quarter.
It last traded at S$0.16 on Thursday.
CAPITALAND Mall Trust (CMT) reported on Friday a 0.01 Singapore cent increase of its distribution per unit (DPU) to 2.75 Singapore cents for the second quarter of the year.
For the three months ended June 30, 2017, the indirect wholly owned subsidiary of CapitaLand Limited's net property income stood at S$117.6 million, up 1.2 per cent from a year ago. Distributable income was up 0.1 per cent to S$97.2 million for Q2 2017.
CMT, however, reported a 1.3 per cent decrease in its Q2 gross revenue to S$168.6 million, mainly due to Funan Mall, which ceased operations for redevelopment from July 1, 2016.
CMT closed at S$2 on Thursday.