Yeo Hiap Seng
Food and beverage maker Yeo Hiap Seng posted a lower net profit of $10.3 million for the fourth quarter, from $14.2 million in the same period a year ago. The drop came as revenue slid to $91.5 million for the three months to last Dec 31, from $95.6 million previously.
The group's food and beverage division saw a decline in both turnover and gross profit amid higher cost during the quarter, while there was no property development or selling activity.
Earnings per share for the quarter was 1.79 cents, down from 2.47 cents previously. Net asset value per share stood at 117.59 cents as at Dec 31, up from 103.88 cents a year earlier.
The directors have proposed a final dividend of two cents a share.
Wheelock Properties saw losses widen in the fourth quarter despite higher revenue. It reported a net loss of $16.4 million for the three months to Dec 31, compared with a net loss of just $927,000 in the same period a year earlier.
Revenue surged 107.1 per cent to $224.3 million mainly due to sales in Ardmore Three, The Panorama, and its Fuyang project in China. But gross profit dropped 19.8 per cent to $19.2 million amid higher costs, while two properties were given lower revaluation figures.
Loss per share for the fourth quarter was 1.37 cents from a loss per share of 0.08 cent previously. Net asset value per share was $2.50 as at Dec 31, down from $2.54 a year earlier.
The group has proposed a first and final dividend of six cents a share.
Dutch coffee and tea firm Jacobs Douwe Egberts said it will make a voluntary conditional general offer to acquire all the issued shares of Singapore-listed Super Group.
This follows the fulfilment of all the pre-conditions in respect of the offer. The offer price is $1.30 per share in cash, a premium of 34 per cent over the last-traded price on Oct 31, the last date on which the shares were traded.
A scheme meeting will be held on March 23 for ARA shareholders to vote on a privatisation bid, which will offer $1.78 a share.
Independent financial adviser Deloitte has said that the financial terms of the scheme are fair and reasonable.