Stocks to watch: Parkway Life Reit, Starhill Global Reit, CRCT, FHT, Japfa, Lian Beng, Tee Land

, as earnings declined. DPS is down by 10.2 per cent year on year for the three months to June 30, the manager said in results released on Tuesday night, while blaming weakness in its Australian assets. NPI fell by 11 per cent to S$25.4 million, as gross revenue lost 8.4 per cent to S$35 million. Distributable income was down by 9 per cent to S$19.2 million. Net property income for the nine months was down by 6.9 per cent, to S$81.6 million, on a 5.9 per cent slide in gross revenue, to S$110.

Earnings per share for the three months slipped to 0.27 US cent, compared with 1.63 US cents previously, while net asset value was US$0.42 a share, unchanged from Dec 31, 2018. Net profit for the half-year fell by 72.3 per cent to US$12.8 million, while revenue grew by 8 per cent to US$1.89 billion. No dividend was recommended, unchanged from the year before. Japfa lost US$0.01, or 1.91 per cent, to US$0.515, before the results were released.

Meanwhile, 74.1 per cent-owned development subsidiary SLB notched a 79 per cent drop in revenue to S$10.4 million. But net profit grew by 29.9 per cent, to S$1.48 million, as S$597,000 in post-tax losses was attributed to non-controlling interests. EPS was flat at 0.16 Singapore cent. Lian Beng's board recommended a final dividend of 1.25 Singapore cents a share for the quarter - taking the full-year pay-out to 2.25 Singapore cents a share, unchanged from the year before - while SLB will pay 0.1 Singapore cent a share, against no dividend in the year prior. Lian Beng closed up by half a Singapore cent, or 0.97 per cent, at S$0.52, and SLB ended flat at S$0.145, before the results for both companies were released.

The group made a loss per share of 5.33 Singapore cents for the full year, widening from a LPS of 1.95 Singapore cents the previous year, while net asset value was 27.1 Singapore cents a share, down from 32.8 Singapore cents before. No dividend was recommended for the period - compared with a full-year pay-out of 0.4 Singapore cent a share for the year prior - which the board said was"on grounds of prudence". The counter closed flat at S$0.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Stocks to watch: SIA, CDLHT, Ascendas Reit, Mapletree NAC Trust, Far East H-Trust, SembMarineTHE following companies saw new developments that may affect trading of their shares on Tuesday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

ANZ Singapore named IFA for Ascott Reit, A-HTrust mergerTHE manager of Ascott Residence Trust (Ascott Reit) on Tuesday said it has appointed the Singapore branch of the Australia and New Zealand Banking Group (ANZ) as its independent financial adviser (IFA) for the Reit's (real estate investment trust) proposed merger with Ascendas Hospitality Trust (A-HTrust). Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Stocks to watch: SIA, CDLHT, Ascendas Reit, Mapletree NAC Trust, Far East H-Trust, SembMarineTHE following companies saw new developments that may affect trading of their shares on Tuesday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »