The following companies saw new developments that may affect trading of their securities on Wednesday (Feb 8):
Lendlease Reit (JYEU): The manager of Lendlease Global Commercial Reit (Lendlease Reit) posted distribution per unit (DPU) of S$0.0245 for the first half FY2023 ended December 2022, up 2.1 per cent from S$0.024 in the corresponding period a year ago.
Distributable income rose 95.9 per cent to S$56 million, from S$28.6 million in the previous year.
Gross revenue more than doubled to S$101.7 million in H1 FY2023, from S$39.2 million in H1 FY2022. The increase was mainly due to contributions from Jem, which was acquired in April 2022, as well as the easing of Covid-19 measures.
StarHub (CC3): StarHub posted a 98.4 per cent fall in net profit to S$1.3 million for the second half of the year ended Dec 31, 2022, from S$81.4 million a year earlier.
This was despite a rise in revenue of 18.7 per cent to S$1.3 billion, from S$1.1 billion the year before.
At its earnings briefing on Tuesday (Feb 7), the telco said this came on the back of lower profit from operations, including provisions for the company’s Dare+ transformation initiatives. Dare+ is a five-year transformation plan that includes the establishment of StarHub’s 5G network and other IT expenditures.
HPH Trust (NS8U): Hutchison Port Holdings Trust (HPH Trust) reported on Tuesday (Feb 7) a distribution per unit of HK$0.08 for its second half ended Dec 31, 2022, unchanged from the same period a year ago.
This takes its DPU for the full year to HK$0.145, also unchanged from the previous financial year, HPH Trust said in a bourse filing.
Revenue and other income for the full financial year fell 8.1 per cent to HK$12.2 billion (S$2.1 billion), while total operating expenses climbed 0.3 per cent to HK$7.9 billion. This resulted in operating profit falling 20.4 per cent to HK$4.3 billion.
F&N (F99): Mainboard-Listed drinks maker Fraser and Neave (F&N) reported on Tuesday (Feb 7) a 28.8 per cent year-on-year decline in net profit for its first quarter despite higher revenue.
Net profit for the three months ended Dec 31, 2022 fell to S$28.6 million from S$40.2 million in the corresponding period a year earlier, the company said in a business update filing on the Singapore Exchange. On a per-share basis, earnings fell to S$0.02 in Q1 FY23 from S$0.028 in Q1 FY22.
The group’s profit before interest and taxes also dropped 22.1 per cent on year in the first quarter to S$56.8 million, with the beverages and dairies segments contributing most to the decline.
UOI (U13): United Overseas Insurance (UOI), the general insurance arm of UOB, on Tuesday (Feb 7) posted a 36.9 per cent drop in net profit to S$16.7 million for the financial year ended Dec 31, 2022.
This follows a 19.4 per cent decrease in net profit for the second half of FY2022 to S$12.1 million, according to its financial statement.
Gross premium for the full year rose 1.6 per cent to S$99 million on the back of employers’ liability, marine classes of insurance and inward reinsurance, UOI said. H2 gross premium also grew at the same rate of 1.6 per cent to S$40.8 million.
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