THE following companies saw new developments that may affect trading of their securities on Wednesday (Mar 1):
IHH Healthcare: The Malaysian hospital group on Tuesday announced a58 per cent fall in net profit for the fourth quarterended Dec 31, 2022 to RM191.3 million (S$57.9 million) from RM453.6 million the previous year. This was despite a 9 per cent higher revenue of RM4.9 million. A first and final dividend of RM0.07 per share was declared, which was 17 per cent higher than the year-ago period, and will be payable to shareholders on Apr 28. IHH shares closed at S$1.75, down 0.6 per cent or S$0.01 on Tuesday before the news.
JARDINE Cycle and Carriage (Jardine C&C) : on Tuesday (Feb 28) announced a net profit of US$252.3 million for the second half of 2022 ended December, down 42 per cent from earnings of US$434.3 million in the same period in 2021.
Revenue for the second half of the year was up 18 per cent to US$11.1 billion, due primarily to higher sales in Astra’s automotive segment, financial services, heavy equipment and mining operations and higher sales in direct motor interests.
The board of directors has recommended a final dividend of US$0.83 per share, up from US$0.62 per share in 2021.
Palm oil producer First Resources’ net profit rose 53.4 per cent to US$197.2 million for the second half year ended Dec 31, 2022, up from US$128.6 million in the same period in 2021, the group said on Wednesday (Mar 1).
Net profit for the full year more than doubled, reaching US$325.2 million in FY2022 from US$161.1 million in FY2021.
Revenue was also 11.4 per cent higher, at US$334.3 million in H2 2022, from US$619.4 million previously. This brings its full year revenue to US$1.2 billion, which is 18.7 per cent higher than the US$1 billion reported in FY2021.
Yangzijiang Financial Holding reported net profit of S$25.6 million for the second half of its financial year, down 80 per cent from S$130.7 million in H2 FY2021.
The recently spun-off financial unit of Yangzijiang Shipbuilding on Wednesday (Mar 1) posted a loss after allowances of S$17.1 million, as opposed to profit after allowances of S$111.9 million in H2 FY2021. This came as a S$135.9 million allowance for credit losses was recorded during the period under review, due to additional allowances made for non-performing debt investments and microfinance loans.
Total income for the half year declined 9 per cent year on year to S$132.4 million from S$145.7 million, mainly due to lower interest income and dividend income.