Company Briefs: Venture Corp

Venture Corp

Venture Corp has reported a 7.5 per cent rise in second-quarter net profit to $36.1 million.

This translates to a net margin of 5.5 per cent.

Revenue for the three months to June 30 was up 10 per cent at $661 million, driven by both higher shipment and favourable exchange rate movement. Earnings per share rose to 13.1 cents from 12.2 cents previously while net asset value per share fell to 660.4 cents, compared to 677.8 cents as at Dec 31.


Rowsley

Rowsley has agreed to pay about $20.6 million for a 34.7 per cent stake in RSP Design Consultants (India), one of India's leading architectural services companies.

RSP India, with more than 360 employees over six office locations in the country, provides project management, building design consultancy, master planning, civil, structural, and mechanical and electrical engineering, interior design and landscaping design services in India.

Separately, Rowsley said its second-quarter net profit slumped 92 per cent to $516,000.

Revenue for the three months to June 30 fell by 20 per cent to $17.8 million.

The weak real-estate market in Singapore led to declines in revenue contributions of about $2.8 million from RSP's architectural services and about $1.8 million from civil and engineering services.

Rowsley recorded an unrealised currency translation loss of $15.9 million for its investment in a property project in Iskandar Johor, owing to a further weakening in the Malaysian ringgit against the Singapore dollar.


Frasers Centrepoint

Frasers Centrepoint yesterday reported a 43 per cent jump in third-quarter net profit to $181.4 million. Revenue for the three months to June 30 soared 157 per cent to $1.01 billion.

The higher income and revenue were fuelled primarily by project completions of Twin Waterfalls executive condominium in Singapore and Gemdale Megacity Phase 2A in China during the quarter.

New streams of income contributions from the acquisition of Australand Property Group and the six hotels acquired by Frasers Hospitality Trust from the TCC Group also boosted Frasers Centrepoint's financial performance.

Earnings per share swelled to 5.71 cents from 4.39 cents previously while net asset value per share eased to $2.20 from $2.22 as at Sept 30.

A version of this article appeared in the print edition of The Straits Times on August 06, 2015, with the headline 'CompanyBriefs'. Print Edition | Subscribe