Company Briefs : Hyflux


A weak Singapore power market and losses from Tuaspring Integrated Water and Power Plant, which is classified as held for sale, eroded results for Hyflux in its third quarter.

These factors sent Hyflux into the red, with a net loss of $26.1 million, reversing from a profit of $10.3 million previously.

The drop in earnings was due primarily to the Tuaspring plant, which contributed losses of $26.6 million for the third quarter ended Sept 30.

Revenue plummeted 60.6 per cent to $98 million.

Loss per share increased to 5.04 cents from 1.05 cents in the year-ago period.

SBS Transit

Transport operator SBS Transit's third-quarter profit was driven up about 42 per cent year on year to $11.1 million, in line with higher revenue. Revenue edged up about 7 per cent to $295 million on higher contributions from its public transport services segment.

Earnings per share for the quarter was 3.57 cents, up from 2.52 cents a year ago.

SBS Transit said: "Revenue from public transport services is expected to be higher. Bus service revenue is expected to be higher with a full-year contribution of revenue under the bus contracting model. Rail service revenue is expected to be higher with higher ridership from the opening of Downtown Line 3 on Oct 21."


Bolstered by higher contributions from share of results of associates and joint ventures, as well as gains on disposal of assets, groundhandler Sats saw its net profit rise 16.2 per cent to $72.2 million for the second quarter ended Sept 30.

During the quarter, the group recorded a one-off gain of $5.2 million from the disposal of a 51 per cent stake in Sats HK, and $1.8 million from the completion of the restructuring of Jilin Zhong Xin Cheng Food Co and SG IPF.

Stripping out one-off items, underlying net profit rose from $62.1 million to $65.2 million.

Revenue dipped 0.8 per cent to $434.8 million on the back of lower revenue from its food solutions business.

The company declared an interim dividend of six cents per share, on a par with last year.

A version of this article appeared in the print edition of The Straits Times on November 10, 2017, with the headline 'Company Briefs'. Subscribe