China-based Yongmao Holdings has posted a 32.1 per cent drop in fourth-quarter earnings to 5.7 million yuan (S$1.2 million), dragged down by lower profit before taxation.
The weaker performance came as revenue inched up just 2.1 per cent to 119 million yuan. The higher rental income and higher sales of components and parts were partly offset by lower sales of tower cranes, said Yongmao in a statement yesterday. However, net profit for the full year to March 31 rocketed by 619.1 per cent to 28.1 million yuan, while revenue rose 26.3 per cent to 574.5 million yuan.
The company has proposed a first and final dividend of one cent per share.
Chasen Holdings swung back into the black in the fourth quarter with a net profit of $1.2 million. This marks a turnaround from the net loss of $2.2 million in the same period a year earlier.
Revenue rose 29 per cent to $32.3 million, thanks to higher turnover from its specialist relocation and third-party logistics business segments in the United States, Thailand, Malaysia and China.
Earnings per share for the quarter was 0.28 cent, in contrast to a loss per share of 0.7 cent previously. Net asset value per share was 18.9 cents as at March 31, up from the 18.4 cents at the same time a year earlier.
The mainboard-listed firm said it will announce at a later date whether it will give out an interim ordinary dividend.
Ley Choon Group Holdings
Construction group Ley Choon Group Holdings has logged a net profit of $3.7 million, reversing from its losses of $13.5 million in the corresponding period a year earlier.
This was achieved on the back of a 24.6 per cent rise in revenue to $29.2 million for the three months to March 31.
After five sequential quarters of profitability, Ley Choon also returned to full-year profitability with net earnings of $17.7 million, from a net loss of $60 million a year earlier. This was underpinned by a 37.2 per cent growth in revenue to $115.4 million. The revenue improvement was mainly due to higher income from its pipes and roads business segment, which was sufficient to offset the lower revenue from its construction materials segment.
Ley Choon shares soared half a cent to three cents after the results were announced.