Company Briefs: QAF

QAF

Breadmaker QAF posted a 13 per cent drop in first-quarter earnings to $14.2 million.

Revenue for the three months to March 31 fell by 15 per cent to $212.7 million. This was due to a deconsolidation of financial results of Gardenia Bakeries (KL) from that of the group as QAF was forced to sell 20 per cent of its shareholdings in the Malaysian bakery in April last year to comply with regulatory requirements.

This reduced its stake to 50 per cent, as a result of which the Malaysian unit ceased to be a subsidiary.

Earnings per share slipped to 2.5 cents from 2.9 cents previously, while net asset value per share firmed to 96 cents compared with 93.8 cents as at Dec 31.


CWT

Logistics-based CWT reported a 28 per cent jump in first-quarter net profit to $30.2 million on the back of a 39 per cent rise in revenue to $2.61 billion.

The increase in revenue for the three months to March 31 was contributed by its commodity marketing division, which reported rising trading volume at significantly higher commodity prices over the same period last year.

Earnings per share climbed to 5.03 cents from 3.95 cents previously, while net asset value per share rose to $1.48 compared with $1.456 as at Dec 31.


Aspial Corp

Aspial Corp said its first-quarter net profit more than doubled to $6.3 million from $3 million in the same period last year.

Revenue for the three months to March 31 rose by 12 per cent to $140.9 million, thanks to its real estate and financial service businesses.

Earnings per share grew to 0.33 cent from 0.16 cent previously. Net asset value per share jumped to 16.77 cents, up from 16.14 cents as at Dec 31.

Plans to spin off its property business in Australia and Malaysia on the Catalist board are moving along, said Aspial.

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