Company Briefs: China Aviation Oil

China Aviation Oil

Second quarter net profit rose 32.8 per cent to US$23.6 million (S$32 million), as revenue for the three months to June 30 rose 19.8 per cent to US$3 billion.

The increase was mainly due to a rise in trading volume of oil products.

Earnings per share was 2.74 US cents for the quarter, compared with 2.07 US cents a year earlier, while net asset value per share was 71.72 US cents at June 30, up from 68.90 US cents at Dec 31.

No dividend was declared.

"The second half could be more difficult for oil trading, as concerns about supply and economic demand and unsure economic outlook after Britain's exit from the European Union could, among other factors cause more volatility in the oil market," the company said.

The counter closed down two cents to $1.46 yesterday.

Dairy Farm International Holdings

Net profit for the first half rose 4 per cent to US$199 million. Sales dipped 1 per cent to US$5.56 billion but combined total sales including associate firms and joint ventures increased 26 per cent to US$10.11 billion.

Higher contributions from food, home furnishings, restaurants and associate firm Yonghui SuperStores offset lower contribution from the health and beauty division.

Basic earnings per share for the six months to June 30 was 14.74 US cents, up from 14.16 US cents a year earlier.

An interim dividend of 6.5 US cents per share was declared, similar to a year earlier.

"While sales and profit performance in the first half have been encouraging in a challenging trading environment, the outlook remains uncertain with consumer confidence fragile in most markets," the company noted.

"Our businesses are continuing to invest in their customer offerings and infrastructure, and are fully committed to enhancing their competitive positions."

The counter closed up nine US cents to US$6.74 yesterday.

A version of this article appeared in the print edition of The Straits Times on July 29, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe