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Stocks to watch: YZJ Shipbuilding, Netlink NBN Trust, Sasseur Reit, Apac Realty
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Yangzijiang (YZJ) Shipbuilding: YZJ Shipbuilding posted a net profit of 936 million yuan (S$183.6 million) in the second quarter, down 6 per cent from the same period a year earlier. Revenue in the three months ended June 30 was seven billion yuan, down 12 per cent. Core shipbuilding generated revenue of 3.1 billion yuan, down from 5.2 billion yuan in the same period a year earlier, as 18 vessels were delivered instead of 20. Earnings per share was 23.73 RMB cents, down from 25.08 RMB cents in the second quarter last year. YZJ Shipbuilding shares fell four Singapore cents or 2.82 per cent to S$1.38 before results were announced.
NetLink NBN Trust: Fibre network operator NetLink NBN Trust saw earnings jump in its first quarter, according to results out on Monday, with revenue growth fuelled by StarHub's cable customer migration. Net profit was up by 10 per cent year on year to S$20.9 million, for the three months to June 30, as the increase in expenses came slower than the boost to the top line. Turnover rose by 6.9 per cent to S$92 million, on more residential connections and installation-related revenue in the core fibre business, which more than covered the decline in contributions from ducts and manholes service and diversion. Earnings per unit stood at 0.54 Singapore cent, up from 0.49 cent before. NetLink NBN Trust units closed lower on Monday by half a cent, or 0.57 per cent, at S$0.88, before the results were released.
Sasseur Reit: Sasseur Reit on Tuesday posted a distribution per unit (DPU) of 1.608 Singapore cents for its second-quarter ended June 30, 1.3 per cent higher than the DPU of 1.587 cents for the period from March 28, 2018 to June 30, 2018. The Reit, which was listed last March, posted distributable income of S$19.2 million, 2.3 per cent above S$18.8 million in the previous year. Net property income however, came in at S$29.9 million, down 7.4 per cent from S$32.3 million a year ago. Units in Sasseur Reit closed up 0.5 Singapore cent, or 0.6 per cent at 80 cents on Monday.
Apac Realty: Apac Realty, Singapore's largest real estate agency, has posted a net profit of S$3.3 million in the second quarter, down 56.8 per cent from the same period a year earlier. Revenue from real estate brokerage fees and related services fell 30 per cent to S$84.8 million in the three months ended June 30. An interim dividend of 0.75 Singapore cents will be paid on Sept 9, representing 53 per cent of the group’s first-half net profit. Last year, an interim dividend of two Singapore cents was declared. Earnings per share fell 56.7 per cent to 0.94 Singapore cents, from 2.17 cents in the second quarter last year. Apac Realty shares fell 2.5 cents or 4.55 per cent to S$0.525 before results were announced.