THE following companies saw new developments that may affect trading of their securities on Monday (August 14):
Cromwell E-Reit: CROMWELL European Real Estate Investment Trust (Cromwell E-Reit) will not be providing a capital distribution top-up for the first half ended June.
This resulted in a 10.4 per cent decline in H1 distribution per unit (DPU) to 0.07790 euro from 0.08695 euro the year before, when a 1.1 million euro capital distribution top-up was made.
The Reit manager on Monday (Aug 14) said its board decided to preserve capital gains and not declare the top-up, given weaker macro fundamentals and tighter credit markets.
Wilmar: WILMAR International’s net profit for the half year ended June 2023 fell 52.7 per cent to US$551 million, from US$1.2 billion last year.
This was due to lower contributions from food products and feed and industrial products, despite higher sales volume.
However, this was partially offset by improved contributions from its sugar merchandising and shipping divisions, as well as “strong performances” from its European associates and joint ventures, said the company in an earnings announcement on Friday (Aug 11).
Emperador: PHILIPPINE liquor giant Emperador reported its revenue climbed 11 per cent to 31 billion pesos (S$742 million) in the first half of this year from a year ago, as its global whisky segment continued to perform.
In a bourse filing on Friday (Aug 11), the company that is dual listed on the Philippine Stock Exchange and the Singapore Exchange said the whisky segment showed a “stellar performance”, while its brandy segment also demonstrated some growth – despite facing inflationary headwinds.
Olam: FOOD and agri-business giant Olam Group could soon be racing to a different beat.
The group is set to lose its biggest revenue generators with the spin-off of Olam Agri and food ingredients subsidiary ofi. Its top line would then come down to the horsepower of its “Engine 2” businesses and startup growth initiatives.
It has been some four years in the making now with Olam’s second growth engine revving up nicely. In 2022, revenue from the group’s associated incubating business segment came in at S$101.2 million, a sharp jump from S$22.9 million the year before.
Haw Par Corporation: MAINBOARD-LISTED Haw Par Corporation posted a 34.9 per cent jump in net profit to S$104.1 million for the six months ended Jun 30, 2023, from S$77.2 million in the corresponding period last year.
Revenue was up 16.3 per cent to S$111.1 million, from S$95.5 million a year ago, buoyed by a growth in consumer spending since the start of 2023, said the group in a bourse filing on Friday (Aug 11).
H1 earnings per share stood at S$0.47, from S$0.349 in the previous year.
YANGZIJIANG Financial Holding on Saturday (Aug 12) reported earnings of S$162.5 million for the first half of the fiscal year ended June, up 19.2 per cent from a net profit of S$136.4 million in the corresponding year-ago period.
On a per-share basis, earnings rose to S$0.0439 from S$0.0345. The company said this figure was boosted by its earnings growth, as well as its share buyback activity over the last 12 months.
No dividend was declared for the period under review, as the company’s policy is to declare a dividend annually.
