THE following companies saw new developments that may affect trading of their securities on Thursday (Aug 11):
CapitaLand Investment (9CI): PROPERTY investment manager CapitaLand Investment Limited (CLI) posted a 38.3 per cent drop in profit for the first half year ended Jun 30, to S$433 million, from S$702 million last year due to “lower velocity in asset recycling activities”, particularly in China, it said in a regulatory filing on Thursday (Aug 11).
The group’s half-year earnings per share also fell 66.4 per cent to S$0.084 from S$0.25 previously, despite a 29.1 per cent gain in revenue to S$1.35 billion from S$1.05 billion in H1 2021 — boosted by higher contributions from its fee income-related business (FRB) and real estate investment business (REIB).
The rise in revenue was driven mainly by the strong recovery of the group’s lodging operations, post-relaxation of travel restrictions across most countries, said CLI.
CDL (C09): CITY Developments Limited (CDL) on Thursday (Aug 11) posted a record net profit of S$1.1 billion for the first half ended Jun 30, reversing from a net loss of S$32.1 million recorded in the same period last year.
This was mainly due to divestment gains from the sale of Millennium Hilton Seoul, as well as the gain from the group's deconsolidation of CDL Hospitality Trusts (CDLHT), which resulted from the distribution in specie of CDLHT units in May 2022.
The S$1.1 billion net profit was the highest net profit achieved since CDL’s inception in 1963, it said in a press statement. The results translate to earnings per share of S$1.235, against a loss per share of S$0.042 in the corresponding period a year ago.
OUE (LJ3): PROPERTY developer OUE Limited posted earnings of S$88.7 million for the first half ended June, nearly trebling from earnings of S$30.1 million a year ago.
The increase was partially due to higher marked-to-market, fair-value gains on investments designated at fair value through profit or loss.
“Other gains”, which included these fair-value gains, jumped to S$40.1 million in H1, from S$8.1 million in the year-ago period.
SBS Transit (S61): TRANSPORT operator SBS Transit on Wednesday (Aug 10) announced earnings of S$34.6 million for the first half ended June, down 5 per cent from earnings of S$36.5 million in the year-ago period.
The decline was attributed to a jump in tax expense for H1 to S$8.1 million, from S$1.1 million a year ago.
The increase in tax paid was largely due to higher profits in H1, as well as the exemption of tax in the corresponding period last year as a result of the Job Support Scheme.
Haw Par (H02): MAINBOARD-LISTEDHaw Par Corporation saw its earnings for the first half of FY2022 rising to S$77.2 million on the back of improved consumer demand for healthcare products.
For the 6 months to June 2022, the manufacturer of the Tiger Balm line of products delivered a 45.8 per cent year-on-year jump in net profit from S$53 million in the previous corresponding period.
Earnings per share improved to S$0.349 from S$0.239. Revenue in the period rose 45.1 per cent, from S$65.8 million to S$95.5 million.