Company Briefs: BreadTalk Group

BreadTalk Group

BreadTalk Group's net profit rose 10.5 per cent to $2.4 million for the second quarter ended June 30.

Revenue was near flat at $148.8 million, compared with $147.7 million in the year-ago period.

Growth in the food atrium, restaurant and 4orth Food Concepts divisions made up for a 5.2 per cent decrease in revenue from the bakery business.

BreadTalk will pay a special dividend of 0.5 cent a share.

First-half net profit was down 72.2 per cent at $3.6 million, while revenue inched up to $297.4 million from $295.4 million previously.

Kingboard Copper Foil Holdings

Kingboard Copper Foil Holdings saw its net profit rise 50.4 per cent to HK$6.6 million (S$1.2 million) for the second quarter ended June 30. This was on the back of a 15.1 per cent rise in revenue to HK$158.2 million.

Revenue for the period comprised a HK$30 million licence fee and HK$128 million worth of sales of polyvinyl butyral (PVB) resin, used to produce reinforced glass for the automotive and building industries.

The company noted that its PVB business has been affected by restrictions on residential units in first-and second-tier cities in China, which have hurt the real estate industry and, hence, the construction industry.

Pacific Radiance

Pacific Radiance has been granted a moratorium on legal actions taken by its creditors.

The application, made on July 24, was to protect the offshore marine services company against any attempts by its creditors to enforce their claims while it is in discussions with stakeholders on restructuring itself.

The court further ordered that the moratorium does not preclude DBS Trustee from enforcing its rights regarding the $100 million 4.3 per cent notes due 2018, for which it is trustee.

The court also ordered Pacific Radiance to submit a report on the valuation of its significant assets in support of its intended application for a scheme of arrangement, as well as to submit information on any acquisition, disposal or grant of security no later than 14 days afterwards.

A version of this article appeared in the print edition of The Straits Times on August 02, 2018, with the headline 'Company Briefs'. Print Edition | Subscribe