Penguin International posted a profit of nearly $12 million for the quarter ended Sept 30, a rise of about 50 per cent compared to the same period last year.
Revenue fell 7.2 per cent to $48.3 million for the third quarter, mainly due to a fall in shipbuilding activities.
The revenue drop was partially offset by an increase in chartering activities.
Other operating income of $4.2 million for the third quarter came mainly from an out-of-court settlement of a legal case and proceeds from the sale of vessels from the group's fleet.
Penguin posted earnings per share of 1.81 cents for the quarter compared with 1.2 cents for the same quarter in the previous year, while net asset value per share was 23.50 cents as at Sept 30, up from 20.92 cents as at Dec 31.
Select Group yesterday set up Third Place Cafeteria, a fully-owned subsidiary in Singapore. The subsidiary will provide food catering and banquet services for exhibitions, functions and other events, in addition to operating cafes and snack bars.
The total issued and paid-up share capital of the subsidiary is $1.
The incorporation of Third Place Cafeteria was funded by internal resources and is not expected to have any significant effect on the consolidated net tangible assets and earnings per share of the company and the group for the current financial year ending Dec 31.
Chemical Industries (Far East)
Chemical Industries (Far East) reported a profit of $6.5 million for the six months to Sept 30, which was a 208 per cent increase compared to the same period last year.
Revenue posted was $46.4 million for the half year ended Sept 30, up from $45.8 million for the same period last year.
Earnings per share rose to 8.61 cents for the half year, up from 2.79 cents for the corresponding period in the preceding year. Net asset value per share was $1.34, up from $1.27 as at March 31.