Best World International
Multi-level marketing firm Best World International has posted a 62.4 per cent surge in net profit to $11.9 million in the second quarter, bolstered by strong performance in its largest and fastest-growing market - China.
Revenue in the three months ended June 30 climbed by 7.2 per cent to $55.3 million. Second-quarter earnings per share was 2.17 cents, up from 1.34 cents a year earlier.
The board has recommended an interim dividend of 1.5 cents per share. This represents a payout of 38 per cent of the group's net profit in the first half. Last year, an interim dividend of two cents per share was paid.
Best World said it has revised its dividend policy for 2017 to 2019. It intends to recommend and distribute annual dividends of not less than 40 per cent (previously 30 per cent) of net profit, excluding one-off items.
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The counter fell by one cent or 0.63 per cent to $1.59 before the earnings were announced.
Property group Roxy-Pacific Holdings has entered into an agreement to acquire a freehold residential site in River Valley Road for S$110 million. The site is between the Verv @ RV and Wilmer House condominiums.
It has a total land area of 28,798 sq ft and an existing plot ratio of 2.8 under the 2014 Master Plan for residential apartment development.
Roxy-Pacific said the acquisition will be financed by internal funds and bank borrowings and is not expected to have a material impact on the group's consolidated earnings and net tangible assets per share for the current financial year ending Dec 31.
The acquisition will be made via Roxy-Pacific's subsidiary, RH Capital Two.
Vicom, the technical testing and inspection services provider, has reported an 8.3 per cent slide in second-quarter net profit to $6.1 million. Revenue in the three months ended June 30 fell by 5.2 per cent to $24.1 million.
The board has proposed an interim dividend of 13.12 cents per share, up from eights cents in the same period last year.
Earnings per share was 6.85 cents, down from 7.47 cents a year earlier. Net asset value per share was 165.11 cents as at June 30, down from 169.05 cents as at Dec 31 last year.
The counter rose by two cents or 0.35 per cent to $5.69 before the earnings were announced.