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Stock Headliners You Need To Know
Headliners | 13 August 2015
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By: Joey Ho
Articles (30) Profile

Centurion Corporation announced a 36.4% decline in 1H15 net profit despite a 38% increase in revenue. The higher top line was attributed to the continued expansion of the group’s accommodation business, increasing gross profits by 43.3%. Share of the results of associated companies and joint ventures fell by $16.8m in the absence of a one-off gain of $17.3m from the sale of industrial factory units at M Space last year.

China Fishery Group reported a 64.4% decline in 9M15 net profit, dragged down by a 29.8% fall in revenue. Revenue from the Peruvian fishmeal operations, which accounted for 54.3% of total revenue, decreased by 43.7% primarily due to reduced catch in the 2014 A Season and the closure of the 2014 B Season fishing in the North Centre Anchovy fishery in Peru. Higher fishmeal and fish oil selling prices partially compensated for the drop in sales volume.

Mewah International reported a 1H15 net profit of US$3.3m as compared to a loss of US$7.2m in 1H14. Despite a 2% increase in sales volume, average selling prices were lower by 19% resulting in a 17.4% decline in revenue to US$1.4b. Cost of sales decreased by 20.3% in line with the lower revenue, boosting gross profit by 38.9%, which consequently helped the firm turn the corner.

Neo Group recorded a 61.7% surge in turnover to $20.7m for 1Q16, underpinned by maiden revenue contribution from its newly-acquired food manufacturing business and better food catering sales. Contributions from the food manufacturing business was attributable to the firm’s recent acquisition of a 55% stake in Thong Siek Holdings – manufacturer of the “DoDo” brand of fishballs and other products – and further synergies are expected to be reaped from the deal. Overall, the company was able to reverse from a loss of $0.1m in 1Q15 to record a net profit of $0.2m in the current period.

Sarine Technologies reported a 68.7% decline in 2Q15 net profit and a 41.7% drop in revenue. Weaker top line was weighed upon heavily by a decline in capital equipment sales and recurring revenue, due to significantly lower diamond manufacturing activities. Gross margin is however relatively stable at 72.3%. Interim dividend declared for 2Q15 of US$0.015 was also markedly lower than that of US$0.03 in that of 2Q14.

Sunpower Group announced a fall of 23.4% in net profit for 1H15 despite turnover inching up 1.6%. The poorer performance was attributable to a 5.5 percentage points decline in gross margin to 19.6%, as increased competition squeezed margins. Additionally, higher staff remuneration in order to recruit higher skilled personnel, as well as the higher impairment of allowance on trade and non-trade receivables also weighed on the bottom line. As of 30 Jun-15, total orders on hand stands at approximately Rmb940m.

Technics Oil and Gas reported a 9M15 net profit of $21.4m, surging multi-folds from $1.1m last year. Revenue increased 14.1% mainly due to the addition of the newly acquired subsidiaries, Rigging & Marine Services, Marinelift Testing & Supply and a newly incorporated subsidiary Technorr Marine. Gross profit margin improved 7.5 percentage points as the acquired subsidiaries command higher gross profit margins. The performance was further boosted by a $34.9m increase in other gains arising from the sale of Vina and from the sale and leaseback of property at 72 Loyang Way.

Vallianz Holdings reported a 13.1% decline in net profit for 1H15, despite an 89.8% increase in revenue. Revenue from the group’s ship management and shipyard services grew on contributions from Jetlee Group, OER Group and Newcruz Group which were acquired in FY14. However, increased administrative expenses attributed largely to the consolidation of expenses of acquired subsidiaries coupled with higher finance costs weighed on earnings. As of 30 Jun-15, the group’s vessel chartering business had a fleet of 40 offshore support vessels.

Equipped with a bachelor in banking and finance, Joey covers the finance, technology and healthcare industry in Singapore.

Please click here for more information about this author.

Centurion Corp  0.405 -- --   
Business: Co engages in the accommodation and optical storage media manufacturing businesses. [FY18 Turnover] Workers accommodation (67.1%), students accommodation (31.4%), optical (1.5%).

Insight: Feb-19, FY18 revenue fell 12% mainly due to the le... Read More
China Fishery Group  -- -- --   
Business: An integrated industrial fishing co managing fishing vessels, sells marine catch & produces fish products. [FY14 Turnover] Peruvian fishmeal (68.9%), contract supply (24.4%), china fishery fleet (6.7%).

Insight: Oct-15, Co announced that in line with its assessm... Read More
Mewah Int'l  -- -- --   
Business: Co produces and sells refined and fractionated vegetable oils and fats. [FY18 Turnover] Bulk division (68.9%), consumer pack division (31.1%).

Insight: May-19, 1Q19 revenue slid 13.4% despite higher sal... Read More
Neo Group  -- -- --   
Business: A leading food catering group. [FY19 Turnover] Food catering (45.2%), food manufacturing (27%), supplies & trading (17.9%), food retail (9.3%), other business (0.6%).

Insight: May-19, FY19 revenue inched up 1.6% with increased... Read More
Sarine Technologies  0.245 -- --   
Business: Co manufactures & sells precision technology products for the processing of diamonds & gemstones. [FY18 Geographical] India (66.5%), Africa (12%), others (10%), Israel (5.8%), Europe (3.9%) and North America (1.8%).

Insight: May-19, 1Q19 revenue decreased by US$5.7m to US$10... Read More
Sunpower Group  0.475 -0.010 -2.06%   
Business: Co specialises in the design, R&D & manufacture of customized energy-saving & environmental protection products. [FY18 Turnover] Manufacturing and Services (M&S) (77.4%), Green Investments (GI) (22.6%).

Insight: May-19, 1Q19 revenue increased 30.6% to Rmb811.6m ... Read More
Technics Oil & Gas  -- -- --   
Business: Co is a full service integrator of compression systems & process modules serving mainly the O&G sector. [FY14 Turnover] Contract engrg (46.4%), procurement svcs (33%), engrg, procurement, construction & commissioning (20.6%).

Insight: Nov-15, FY15, Co rebounded strongly back to the bl... Read More

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