Company briefs: Vallianz Holdings

Vallianz Holdings

Higher operating profits helped send earnings soaring by more than 400 per cent at Vallianz Holdings in the second quarter.

The offshore support vessel owner and operator on Monday reported a net profit of US$5.3 million (S$7.2 million) for the three months ended Sept 30 - well up on the US$924,000 from the same period a year earlier.

Revenue dropped 24.8 per cent to US$41.2 million. This was due mainly to the completion of various one-time vessel management projects in the second half of 2016 which were partially offset by the commencement of new contracts with a key customer since the first quarter of 2017/18.

Earnings per share for the quarter came in at 0.12 US cents, up on 0.02 US cents previously. Net asset value per share stood at 4.3 US cents as at Sept 30, slightly higher than 4.17 US cents as at March 31.

Ascendas Hospitality Trust

Ascendas Hospitality Trust (A-Htrust) posted a 2.9 per cent increase in its distribution per stapled security for the second quarter, as lower net finance cost helped to lift earnings.

For the three months ended Sept 30, DPS rose to 1.42 cents from 1.38 cents in the same period a year ago.

The trust posted a 5.2 per cent growth in gross revenue to $58.4 million. Overall improvement in gross revenue across the portfolio was further lifted by the appreciation of the Australian dollar against Singapore dollar, although it was partially offset by a weaker Japanese yen against the Singapore dollar.

Net property income increased by 0.8 per cent to $24.5 million.

Hi-P International

Hi-P International posted an increase of 24.9 per cent in its third-quarter net profit to $38.4 million, fuelled by improvements to operational efficiency.

For the three months ended Sept 30, earnings per share stood at 4.76 cents, up from 3.76 Singapore cents a year ago.

Revenue rose 6.2 per cent to $411.3 million.

Aside from growth in revenue, an improved product mix and operational efficiency led to a 24.7 per cent increase in gross profit to $68.1 million.

A version of this article appeared in the print edition of The Straits Times on November 07, 2017, with the headline 'Company briefs: Vallianz Holdings'. Subscribe