Hot stock: Best World jumps 8.3% on higher earnings and dividends

Chief operating officer Huang Ban Chin said: "Despite ony a half year contribution from the franchise segment, China remains the top performing market for the group. We believe that we will achieve both top and bottom lines growth for FY2019, largely driven by full-year contribution from the China franchise segment."BEST World International shares rose as much as 8.3 per cent on Wednesday after the direct selling group posted a fourth-quarter net profit of S$28.1 million, up 28.

The shares gapped up to open at S$2.65 on Wednesday, and last traded at S$2.70, up 6.72 per cent on volume of 9.68 million as at 10.40am. The counter closed at S$2.53 on Tuesday, after gaining 14.48 per cent over the day as the market anticipated good results and a dividend bump.Management delivered on its promise in proposing a final dividend of 4.2 Singapore cents per share, as well as a special dividend of 0.8 Singapore cents per share.

The group added:"As a result, we expect higher professional fees and other realted expenses in FY2019 compared to the same period last year."

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hot stock: Best World shares plunge as much as 25.8% as trading resumesBEST World International shares plunged as much as 25.8 per cent on Monday before clawing back some gains as trading resumed after a halt that lasted almost five days last week. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Trading halt on Best World shares extended by up to two daysTHE trading halt on Best World International's shares has been extended by up to two days, for the company to finalise and release a clarification. The trading halt may be lifted no later than 8.30am on Feb 25, the company said in a filing on Thursday. It had requested a trading halt on Feb 18, 2019, 11.23am. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Best World gets permission to extend trading haltBEST World International has obtained permission to extend its trading halt by up to two more days in order to prepare, finalise and release a clarification announcement to address certain matters, it said on Thursday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Best World to conduct independent review of business and accounting practicesBEST World International is hiring an independent reviewer to scrutinise its business and accounting practices, after The Business Times raised concerns last week over the challenges in tracking sales of its DR's Secret line of premium skincare products in China. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Stocks to watch: Best World, Raffles Medical, Venture, Allied Tech, Chip Eng SengTHE following companies saw new developments that may affect trading of their shares on Monday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Best World shares fall 18.45% in heavy volume as trading resumesBEST World International shares plunged 50 Singapore cents or 18.45 per cent to finish at S$2.21 on Monday after trading resumed following a halt that lasted almost five days last week. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Stocks to watch: Best World, OUE, Golden Agri-Resources, Olam, Keppel, UOLTHE following companies saw new developments that may affect trading of their shares on Wednesday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Stocks to watch: Best World, OUE, Golden Agri-Resources, Olam, Keppel, UOLSINGAPORE - The following companies saw new developments that may affect trading of their shares on Wednesday (Feb 27):. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Best World posts 29% higher Q4 net profit on transition to franchise modelBEST World reported late on Tuesday a 28.9 per cent rise in net profit for its fourth quarter from a year ago, on a surge in revenue and higher gross margins. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »