Company Briefs: Perennial Real Estate

Perennial Real Estate

Perennial posted a 93 per cent rise in fourth-quarter net profit to $41.1 million, mainly because of fair value gains from the revaluation of investment properties, contributions from operating assets in Singapore and China, and income from its fee-based management businesses.

Revenue for the three months ended Dec 31 rose 90 per cent to $28.4 million.

A first and final dividend of 0.4 cent per share was declared. No dividend was declared for the previous financial year, which ended on June 30, 2014.

Perennial was formed through a reverse takeover of St James Holdings on Oct 27, 2014. The company changed its financial year end from June 30 to Dec 31 to align its year end with those of other entities in the group.

Earnings per share stood at 2.48 cents, down from 2.95 cents a year ago. Net asset value per share was $1.688 per share as at Dec 31, up from $0.003 per share as at June 30, 2014.


Chip Eng Seng

The property and construction firm posted a 94.2 per cent drop in fourth-quarter net profit to $9.8 million.

Revenue for the three months to Dec 31 fell 58.3 per cent to $153.9 million, mainly because of a one-off revenue recognition arising from the completion of retail development Alexandra Central in 2014.

A dividend of four cents per share was declared, flat from a year ago.

Earnings per share stood at 1.57 cents, from 26.31 cents a year ago. Net asset value per share was 120.50 cents as at Dec 31, up from 117.22 cents a year earlier.


Vicom

The vehicle-testing and inspection unit of ComfortDelGro posted a 4.2 per cent rise in net profit to $31.4 million for the year ended Dec 31.

Revenue fell 1.3 per cent to $106.7 million.

A final dividend of 9.50 cents per share and a special dividend of 10.25 cents per share were declared - up from 8.75 cents and 9.50 cents respectively in 2014.

Earnings per share stood at 35.45 cents, up from 34.02 cents in 2014. Net asset value per share was 165.03 cents as at Dec 31, up from 156.74 cents a year ago.

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