Stocks to watch: Chip Eng Seng, BreadTalk, Koufu, Sunningdale Tech, CSE Global

The Singapore Exchange Centre in Shenton Way.
The Singapore Exchange Centre in Shenton Way.PHOTO: ST FILE

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Tuesday (May 7):

Chip Eng Seng Corp: Mainboard-listed real estate player Chip Eng Seng Corp nearly doubled its earnings in the first quarter, buoyed by its lynchpin property development business. Net profit came in at $11.3 millon for the three months to March 31, up from $6.12 million in the same period the previous year. Revenue swelled by 34.2 per cent year on year, to $267.3 million, driven by increased completion of the Grandeur Park Residences project in Tanah Merah and Park Colonial in Woodleigh. Earnings per share (EPS) rose to 1.8 cents, from 0.99 cents previously. No dividend was recommended, unchanged from the preceding year. Chip Eng Seng shed $0.01 or 1.28 per cent to $0.77, before the results were released.

BreadTalk Group: The food and beverage player on Monday posted higher first-quarter earnings, buoyed by growth across the board as the business expanded. Net profit stood at $1.32 million for the three months to March 31, up by 11.5 per cent year on year. Revenue rose by 6.1 per cent to $157.6 million, which the group attributed in part to improved central kitchen and procurement efficiency. BreadTalk chalked higher turnover in its bakery, food atrium, restaurant and other divisions. EPS stood at 0.23 cent, up from 0.21 cent previously. No dividend was recommended, unchanged from the previous year. BreadTalk closed at $0.835, down by 1.5 cents or 1.77 per cent before the results were released.

Koufu Group: Higher contributions due to new outlets opened boosted Koufu's first-quarter top and bottom line. The food court and coffee shop operator on Monday posted a 12.3 per cent increase in net profit to $7 million, on the back of a 4.9 per cent increase in revenue to $57.8 million. EPS dipped to 1.25 cents, from 1.28 cents a year ago, on a larger share base. The rise in revenue was due mostly to higher contribution from its outlet and mall management segment, thanks to two new food courts at The Woodgrove and Buangkok Square which opened in the first quarter, and three new food courts and one coffee shop opened in FY 2018. The counter closed at $0.77 on Monday, down 2.5 per cent or two cents, before the results were released.

Sunningdale Tech: The precision plastic manufacturer's first-quarter earnings took a tumble on a shrinking profit margin, dragged down by its automotive operations. Net profit plummeted to $793,000, down by 59.1 per cent year on year, for the three months to March 31. Meanwhile, group revenue slipped by 5.6 per cent to $159.5 million, according to financial results released on Monday evening. EPS stood at 0.42 cent, down from 1.03 cents previously. No dividend was recommended, unchanged from the same period the previous year. Sunningdale Tech lost $0.03 or 2.17 per cent to $1.35, before the results were announced.

CSE Global: CSE Global, which deals in both oil and gas and telecommunications, saw net profit pick up in the first quarter as margins improved, despite a slump in revenue. Earnings ticked up by 0.5 per cent year on year to $5.7 million for the three months to March 31, according to results released on Monday. Shorn of the impact from a smaller net currency gain, post-tax profit would have risen by 5.3 per cent to $4.6 million, the group noted. This was even as turnover came in 7.4 per cent lower, at $85.4 million, on lower large greenfield revenues recognised and delivery delays for some projects in the Americas. EPS came in at 1.13 cents, up from 1.11 cents. No dividend was recommended, unchanged from the previous year, as CSE's dividend policy is on a half-yearly basis. The counter closed at $0.475, down by 1.5 cents or 3.06 per cent, before the results were released.

Sapphire Corp: Mainboard-listed Chinese infrastructure player Sapphire Corp's bottom line took a big hit in the first quarter as higher rental income and government grants could not make up for lower revenue and swelling finance costs. Net profit came in 16.6 per cent lower year on year in the three months to March 31, at 3.39 million yuan (S$683,000), according to results released on Monday. Meanwhile, revenue slipped by 2.2 per cent to 297 million yuan, which the group attributed to lower sales of railway sleepers, even as the higher rent and grants bumped other income up from 1.32 million yuan to 2.03 million yuan. EPS came in at 1.04 fen, down from 1.25 fen previously, while net asset value was 156.04 fen a share, against 155.15 fen as at Dec 31, 2018. No dividend was recommended, unchanged from the previous year.

CWX Global: Catalist-listed investment firm CWX Global on Tuesday morning requested for a trading halt, pending the release of an announcement. The counter last traded flat at 0.2 cent.