Company Briefs: Del Monte Pacific

Del Monte Pacific

Third-quarter net profit at Del Monte Pacific came in at US$590,000 (S$809,000), reversing a US$2.2 million loss a year earlier.

Turnover for the three months to Jan 31 dipped 6.8 per cent to US$594.1 million due to lower sales in the United States. This was partially offset by a strong performance in the Philippines and rest of Asia.

However, the group's gross margin improved with better productivity and cost optimisation initiatives, it said.

Earnings per share was 0.03 US cent for the quarter, up from a loss per share of 0.17 US cent a year earlier.

Net asset value per share was 18.58 US cents at Jan 31, up from 16.87 US cents a year ago.

Khong Guan Flour Milling

Khong Guan Flour Milling posted a net loss of $483,000 for the half-year ended Jan 31, compared with a net profit of $31,000 a year earlier.

Revenue fell 6.9 per cent to $29.2 million for the period.

The weakening of the ringgit against the Singapore dollar by about 15 per cent and local stock market volatility hurt the value of its investment in short-term quoted securities, and also affected the group assets and operating result for the half-year, it said.

Loss per share was 1.87 cents for the period, compared with earnings per share of 0.12 cent a year earlier.

Net asset value per share was $2.46 as at Jan 31, down from $2.56 as at July 31 last year.

Vibrant Group

Vibrant Group's third-quarter net profit rose 11.5 per cent to $8.7 million, boosted by higher profit from operations with the revaluation of investment property and the sale launch of office strata units at GSH Plaza.

Revenue for the three months to Jan 31 fell 16.4 per cent to $43.3 million, mainly due to a lower contribution from the freight and logistics business and financial services business.

Earnings per share was 1.57 cents for the quarter, up from 1.49 cents a year earlier.

Net asset value per share was 67.86 cents as at Jan 31, down from 71.4 cents as at April 30 last year.

A version of this article appeared in the print edition of The Straits Times on March 12, 2016, with the headline 'CompanyBriefs'. Print Edition | Subscribe