Company Briefs: First Ship Lease (FSL) Trust

First Ship Lease (FSL) Trust

First-quarter net profit at container ship and tanker owner FSL Trust fell 55.1 per cent to US$2.27 million (S$3.1 million).

Revenue for the three months to March 31 rose 7.6 per cent to US$26.67 million,despite the disposal of two panamax container ships in February this year, the trust's manager said.

Earnings per unit was 0.36 US cent for the period, compared with 0.77 US cent a year back.

Net asset value per unit was 44 US cents as at March 31, unchanged from Dec 31.


Nera Telecommunications

The satellite telecommunication firm's first-quarter net profit fell 33.4 per cent to $2.03 million, as revenue for the three months to March 31 fell 11 per cent to $37.49 million.

This was due to lower turnover from the infocomm business segment, which was partially offset by higher turnover from the telecom business segment.

Earnings per share slipped to 0.56 cent from 0.84 cent previously.

Net asset value per share was 16.20 cents as at March 31, up from 15.48 cents as at Dec 31.


PACC Offshore Services Holdings

First-quarter net profit at the offshore marine services provider was US$4.45 million (S$6.05 million), up from US$21,000 a year earlier.

Revenue for the three months to March 31 rose 2 per cent to US$58.7 million, as growth in its offshore accommodation business division offset lower contribution from other divisions.

Revenue in this division was driven mainly by contracts for a semi-submersible accommodation vessel and three light construction vessels, the firm said.

Earnings per share was 0.246 US cent, up from 0.001 US cent a year earlier. Net asset value per share was 58.79 US cents as at March 31, compared with 58.53 US cents as at Dec 31.

A version of this article appeared in the print edition of The Straits Times on May 05, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe