Company Briefs: Cromwell E-Reit

Cromwell E-Reit

Cromwell European Real Estate Investment Trust (Cromwell E-Reit) yesterday morning posted a distribution per unit (DPU) of 1.02 euro cents for its second quarter ended June 30, the same as a year ago.

Net property income (NPI) climbed 33.6 per cent to €27.7 million (S$43 million) from the previous corresponding period.

Gross revenue was also up by one-third to €42.4 million from €31.8 million a year ago. This was due mostly to contributions from the 23 properties acquired between June last year and February this year, after the Reit's initial public offering.

Excluding contributions from the new properties, NPI for the light industrial and logistics portfolio recorded a 5 per cent uptick.

The Reit manager intends to distribute 100 per cent of distribution income until at least the end of this year - which translates to DPU of 2.04 euro cents for the six months - up 3 per cent from 1.98 euro cents for the same period a year ago.

AEM Holdings

Precision manufacturer AEM Holdings posted a 65.4 per cent spike in net profit to $15.7 million for the second quarter ended June 30, up from $9.5 million a year ago.

Earnings per share rose to 5.81 cents for the quarter from 3.49 cents a year ago, the mainboard-listed company said in a filing during the midday break yesterday.

Revenue surged 34.8 per cent to $97.9 million from $72.7 million for the corresponding period last year, primarily generated by the equipment systems solutions business.

An interim cash dividend of 2 cents per share was declared for the current financial period, up from 1.5 cents per share a year ago. The dividend represents a payout of 24.2 per cent on the first-half net profit. It will be paid on Sept 13 after closure of books on Aug 30.

Singapore Airlines

Singapore Airlines (SIA) has appointed Mr Siva Govindasamy as vice-president for public affairs, it said yesterday.

He will take over SIA's corporate communications portfolio from Mr Nicholas Ionides, who is leaving the airline late in October after more than 10 years with the firm.

Mr Govindasamy, a Singaporean, has been senior communications manager for the Asia-Pacific at Airbus since October 2016. Prior to that, he was a journalist for over 16 years.

A version of this article appeared in the print edition of The Straits Times on August 09, 2019, with the headline 'Company Briefs'. Subscribe