AP Oil International
Oil and lubricants trader AP Oil International's full-year net profit dived 15 per cent to $4.2 million, mainly due to losses incurred at the firm's newly-acquired petrochemicals business.
Revenue for the year ended Dec 31 increased 9 per cent to $85.7 million, largely a result of higher trading volumes during the year. Earnings per share was 2.28 cents, down from 2.88 cents the preceding year. Net asset value per share was 31.50 cents as at Dec 31, up from 28.17 cents on the same date a year earlier.
In its exchange filing yesterday, the firm said it expects 2016 to be "extremely challenging". It is developing the China market as part of long-term plans and has set up a subsidiary in Shanghai and joint venture in Chongqing.
Fourth-quarter net profit at instant food and beverage manufacturer Super Group plunged 39 per cent to $15.7 million, due mainly to a one-off gain of $6.5 million from the disposal of a property in the last corresponding period.
Revenue for the quarter ended Dec 31 fell 8 per cent to $141.1 million, due mainly to lower food ingredients sales in Indonesia and China, partially offset by higher sales in the Philippines and Taiwan. Net profit for the full year came in 31 per cent lower at $47.2 million, while revenue fell 6 per cent to $509.2 million.
Earnings per share was 1.41 cents for the quarter, down from 2.32 cents a year earlier. Net asset value per share was 46.80 cents as at Dec 31, up from 44.62 cents the preceding year.
The company has proposed a final dividend of 1.2 cents per share, bringing the total dividend for the year to 2.2 cents.
Lee Metal Group
Distributor and fabricator of steel products Lee Metal Group reported a 34.3 per cent slide in fourth-quarter net profit to $3.1 million.
Turnover for the quarter ended Dec 31 was 37.1 per cent lower at $90.8 million, due to weaker steel prices, coupled with lower volume in steel merchandising business.
Revenue for the full year decreased 14.2 per cent to $445.4 million, while net profit sank 53 per cent to $15.6 million.
Earnings per share was 0.65 cent for the quarter, down from 0.99 cent a year earlier. Net asset value per share was 38.09 cents as at Dec 31 up from 37.44 cents a year earlier.
The company said global steel prices remain weak due to slow growth in steel demand and overcapacity in China steel production.