No Signboard Holdings
Catalist-listed No Signboard Holdings posted a 1.3 per cent drop in its full-year earnings, despite a 7.3 per cent rise in revenue. For the full year ended Sept 30, its net profit was $7.7 million, compared to $7.8 million a year ago.
The food and beverage group's bottom line was hit by a lower profit before income tax from its restaurant business and losses incurred by its beer business from October last year to May, prior to its acquisition of the beer business in June this year. Earnings per share was 1.67 cents, down from 1.69 cents previously. The group registered $24.4 million in revenue, up from $22.7 million last year.
Singapore-listed LHN yesterday said its offering of 42 million new shares at HK$1.90 each in its dual-listing in Hong Kong has raised HK$79.8 million (S$13.7 million) in gross proceeds.
The real estate management services group said the bulk of the net proceeds of HK$46.5 million, or about 60 per cent of the funds, is to be used for the growth of its space optimisation business by acquiring a property in Singapore. The remaining sum will go into buying a property in Singapore to operate a parking yard for its logistics vehicles and logistics services management business, the firm's first operation in China, general working capital purposes, and transportation equipment.
LHN, in a Singapore filing, said the Hong Kong offering of shares was about 5.93 times subscribed, while the international offering portion was subscribed 1.13 times.
Following a strategic review, breadmaker QAF said it had decided to cease its bakery operations in China, which continue to be loss-making. The Chinese bakery operations are undertaken through a 55 per cent held subsidiary of the group, with the remaining 45 per cent held by a company in which controlling shareholder Lin Kejian has an interest.
"The proposed cessation is not expected to have any material impact on the net tangible assets per share and earnings per share of the group for the current financial year ending Dec 31, 2017," it said.
"The board is evaluating other options on the group's future direction in the PRC, including focusing on trading in food-related products."
Separately, QAF announced that group financial controller Derrick Lum has resigned with effect from today.