Chuan Hup's net profit more than doubles

SINGAPORE - Chuan Hup Holdings reported that its net profit surged 103.4 per cent to US$36.7 million, due to property sales and one-off gains on disposal of interests in an associated company and a leasehold property last year.

Revenue for the year ended June 30 increased 14.6 per cent to US$232.2 million compared with last year.

Revenues were boosted by property sales and a rise of 6 per cent in electronics manufacturing service.

The company, which has investments in marine services and property, declared a final dividend of one Singapore cent a share and a special dividend of two Singapore cents a share.

Earnings per share for the year was 3.93 US cents, up from 1.93 US cents a year ago. Net asset value per share was 32.61 US cents as at June 30, down from 33.26 US cents previously.

The counter closed 1.45 per cent higher at 35 Singapore cents on Friday.