Company Briefs : First Sponsor Group

First Sponsor Group

Chinese property developer First Sponsor Group posted a net profit of $31.9 million in the fourth quarter, up 65.7 per cent from a year earlier. Revenue in the three months to Dec 31 rose 18.7 per cent to $100.3 million, due mainly to higher turnover from property sales and financing and increased rent from real estate investments.

A final tax-exempt dividend of one cent per share was recommended, payable on May 26, bringing the total dividend to 1.7 cents per share for the year.

Earnings per share stood at 5.41 cents, up from 3.26 cents a year earlier, while net asset value per share was 165.26 cents as at Dec 31, up from 151.65 cents a year earlier.


Keong Hong Holdings

Construction firm Keong Hong Holdings posted a net profit of $4.78 million in the first quarter, down 15.6 per cent from the same period a year ago. Revenue for the three months to Dec 31 fell 6.3 per cent to $68.6 million due to lower recognition of turnover from construction projects, as a result of the completion of Twin Waterfalls and Alexandra Central Phase 2.

Another two new projects, Raffles Hospital Extension and Parc Life, were still at an initial revenue recognition stage, the group said.

Even so, the firm achieved a slightly better gross profit margin of 10.8 per cent in the first quarter from a year ago. Earnings per share stood at 2.12 cents, down from 2.43 cents a year ago, while net asset value per share was 51.19 cents as at Dec 31, up from 49.33 cents as at Sept 30.


Karin Technology Holdings

Electronic components and computer products distributor Karin Technology Holdings posted an 82.3 per cent fall in net profit to HK$5.6 million (S$1 million) in the first half, due to fierce competition from some new products in the consumer electronics segment.

Revenue for the six months ended Dec 31 fell 18.3 per cent to HK$1.26 billion from the same period a year ago. This was led by a 48.9 per cent drop in consumer electronics product revenues to HK$350.1 million.

Earnings per share stood at 2.63 Hong Kong cents, down from 14.85 Hong Kong cents a year ago. Net asset value per share was 299.1 Hong Kong cents as at Dec 31, down from 311.6 Hong Kong cents as at June 30 last year.

An interim dividend of 5 HK cents per share was declared, payable on March 17.

A version of this article appeared in the print edition of The Straits Times on February 04, 2016, with the headline 'CompanyBriefs'. Print Edition | Subscribe