Company Briefs: PNE Industries

PNE Industries

The company yesterday reported a 15.6 per cent drop in full-year net profit to $7.2 million.

It incurred a loss of $2.3 million from discontinued operations during the year.

Revenue for the 12 months ended Sept 30 was up 2.5 per cent at $74 million.

Earnings per share slipped to 8.6 cents from 10.2 cents previously, while net asset value per share inched up by 0.1 cent to 84.7 cents.

The company recommended an unchanged final dividend of two cents a share.

Cache Logistics Trust

The real estate investment trust (Reit) has agreed to acquire a distribution warehouse facility in Queensland, Australia, for A$9.6 million (S$9.8 million).

The total acquisition cost for the 223 Viking Drive property will come to about A$10.5 million in total. It comprises a single-storey industrial warehouse facility with ancillary office space and a stand-alone training building on freehold land. Located about 18km south-west of the Brisbane Central Business District, the warehouse lies within the established industrial precinct of Wacol.

The property has a land area of about 22,760 sq m, while the gross lettable area amounts to around 6,276 sq m.

Following the completion of the purchase, the property will be leased fully to Western Star Trucks Australia (WSTA) until August 2023, with an annual rental escalation of 4 per cent or in line with the Consumer Price Index, whichever is higher. WSTA - a subsidiary of Penske Automotive Group, which is listed on the New York Stock Exchange - imports and distributes commercial trucks and other vehicles in Australia.

Chew's Group

The group said its net profit rose by 11 per cent to $2.2 million.

Revenue for the year ended Sept 30 climbed by 9 per cent to $33.9 million.

The increase stemmed from stronger sales of designer and generic eggs produced by the group. The $2.8 million rise in sales, of which $1.9 million was derived from the Singapore market, was driven mainly by higher selling prices and greater production volume.

Earnings per share firmed to 2.63 cents from 2.37 cents previously, while net asset value per share rose by 2.28 cents to 28.64 cents.

A final dividend of 0.49 cent a share was proposed, up from 0.44 cent last year.

A version of this article appeared in the print edition of The Straits Times on November 28, 2015, with the headline 'Company Briefs: PNE Industries'. Print Edition | Subscribe