The Financial reporting season is soon coming to a close with most of the big boys finishing their reporting. On thurs and Fri, we saw some of the shipping companies posting their results.
NOL Q2 earnings edge up 6%
Singapore, 11 August 2005: - Global transportation and logistics company, Neptune Orient Lines (NOL), today reported net profits1 of US$392 million for the first half (1H) of 2005, an 11% year-on-year (YoY) increase. NOL achieved a second quarter (2Q) net profit of US$196 million.
Revenues in the 1H rose 16% YoY to US$3.5 billion, with both the Liner and
Logistics businesses registering revenue improvement. Core Earnings Before
Interest Expense, Tax and Non-Recurring Items (EBIT) in the 1H reached US$426 million, a 10% increase over the same period last year.
Labroy Marines 1HFY2005 Net Profit Jumps 59% Y-O-Y to S$27.5 million
- Turnover Up 23% at S$219.60m on Increased Shipbuilding Orders
- Record Interim Net Profit on Higher Shipbuilding Margins
- Better Shipping Freight Rates in Coal and Offshore Sectors
STELLAR RECORD-BREAKING YEAR FOR CHUAN HUP IN FY2005
- Turnover rose 5.9% to US$107.6 million from US$101.6 million in FY2004
- Net profit after tax and minority interests grew 56.2% to US$58.2 million from US$37.3 million in the previous year
- Earnings per share (EPS) on a fully diluted basis grew to 5.35 US cents this year compared to 3.43 US cents previously
- 100% increase in dividend over FY2004. Total tax-exempt dividend of 6 Singapore cents per share for FY2005.
AirOcean Q1 profit soars on revamp
AIROCEAN GROUP LIMITED POSTS 99.1% GROWTH IN NET PROFIT OF $1.29 MILLION ON A TURNOVER OF S$115.9 MILLION
Gross Margin grew to 12%
Express Courier recorded a turnover of S$4.0 million
Group expects to enjoy increased synergies and economies of scale
Demand for logistics services in China continue to grow
Recently listed STX Pan Ocean reported last weekend that its half-time profits had risen 21 per cent to US$192.1 million as strong demand for dry bulk shipments boosted sales by 34 per cent to US$1.5 billion.
Singapore Shipping Corp unveiled a five-fold surge in its first-quarter net profit to $45.7 million from $7.4 million previously, buoyed by one-off gains from the sale of several vessels. The shipping group recorded a total gain of about $65 million, but recognised only $41.3 million of it in the first quarter.
Samudera Shipping, meanwhile, saw its second-quarter earnings rise more than four-fold to $23.2 million, from $5.6 million as topline revenue grew 27.4 per cent to $173.4 million. This raised its first half-earnings to end-June by more than four-fold to $44.5 million.
Shipping group Cosco Corporation (Singapore) more than doubled its second-quarter and first-half net profits. The company's Q2 net profit soared 108 per cent year-on-year to a record $39.4 million, while H1 earnings jumped 115 per cent to $65.2 million.
Fantastic results from the shipping sector.
But is the industry peaking or is there room for more growth in the engine?
And in other news..
MediaRing swings US$1.2m into the black at half-time
if you're interested in VoIP stocks
Magnecomp Q205 Net Profit Rises 16.6% To S$5.0 Million As HDD Suspension Shipments Surge 89%
if you're into Hard Disk Drives (HDD) stocks. (which I am.. )
SINGAPORE Land yesterday posted a 31 per cent jump in second-quarter group net profit to $28.3 million owing mainly to a $7 million gain on the sale of Atrium Court, a six-storey conserved office building in Glasgow.
As a result, SingLand's parent, United Industrial Corp (UIC), also saw its group net earnings for the quarter ended June 30, rise 39 per cent to $27.6 million. UIC's bottom line was also lifted by gain from the sale of another investment property, Eau Claire Place II in Calgary, Canada.
UIC's first-half net profit was up 4 per cent to $46.6 million, while SingLand's bottom line for the same period increased 7 per cent to $46.6 million.
HO Bee Investment's second-quarter group net profit jumped from $1.2 million to $8.3 million, on the back of a near-tripling in revenue from $12.9 million to $38.3 million.
The revenue surge was due largely to contribution from The Berth by the Cove condo project on Sentosa. Ho Bee listed this as one of four projects that will contribute substantially to the group's revenue and earnings over the next few years.
CITY Developments yesterday reported a 36 per cent drop in second-quarter net profit, bogged down by increased tax expenses and the inability to book strong residential property sales.
Upbeat: Mr Kwek, with CFO Ms Goh Ann Nee, is sure that the convergence of positive factors will lift the Singapore property market.
The group's revenue was almost flat, registering a 0.1 per cent gain to $584.9 million, while net income came in at $23.5 million. Tax expenses grew 175 per cent over the same quarter of last year to $23.3 million, effectively negating the group's strong hotels results.
Despite strong sales of its properties such as the wildly popular The Sail @ Marina Bay and City Square Residences - amounting to close to $1 billion - City Dev can only start recognising profits from those projects from the next quarter, as they are still in the initial stages of construction.
Time is GMT + 8 hours
Posted: 24 August 2005 1809 hrs
SINGAPORE : MMI Holdings has posted record earnings and revenues for the full year to June, marking the company's second straight year of record revenues and profit.
The electro-mechanical contract manufacturer said full-year net profit came in at S$38.5 million, up 89 percent on year, while revenue climbed 23 percent to S$691.8 million.
To reward shareholders, MMI has proposed a final dividend of 1.18 cents per share.
one of the makers of Hard Disk Drives components in SG... But this is not the one i bought!
hopefully there's a spillover effect tomorrow and all HDD stocks rise. keke..