Company Briefs: Sakae Holdings

Sakae Holdings

Sakae Holdings, which owns the Sakae Sushi restaurant chain, fell further into the red in the fourth quarter.

Its net loss rose 9.9 per cent to $5.2 million for the three months ended Dec 31, from a net loss of $4.7 million for the same period last year. Revenue was down 4.2 per cent.

Losses for the full year almost tripled, from $4.6 million in 2015 to $13.1 million. Full-year revenue declined 10.1 per cent to $86.4 million, which was attributed to sluggish economic conditions and fierce competition in the sector.

The weakening ringgit also contributed to lower sales values, although sales volumes remained constant.

Loss per share for the three months ended Dec 31 was 3.54 cents, from a loss of 3.37 cents previously. Net asset value fell from 32.23 cents a year earlier to 23.53 cents as at Dec 31 last year.

Dairy Farm International Holdings

Despite soft consumer spending, Dairy Farm posted a solid lift in profits for the full year.

Earnings jumped 11 per cent to US$469 million (S$661 million), on a 1 per cent rise in sales to US$11.2 billion.

The company attributed the increase to stronger growth at Yonghui Superstores in China and an additional three months of contributions from the Chinese store chain.

Earnings per share for the year came to 34.69 US cents, up from 31.39 US cents a year earlier.

The firm proposed a final dividend per share of 14.5 US cents, up from 13.5 US cents previously.

Hongkong Land Holdings

Hongkong Land's profit attributable to shareholders rose 66 per cent last year to hit US$3.3 billion (S$4.7 billion) with only modest growth in revenue.

Revenue grew 3 per cent to US$1.99 billion.

Earnings per share for the year came to 142.23 US cents per share, up from 85.5 cents before. Net asset value per share was US$13.30 as at Dec 31, up from US$12.19 a year earlier.

The company proposed a final dividend of 13 US cents per share.

It develops commercial properties that it retains and manages as long-term investments, as well as premium residential properties. Its core portfolios are here and in Hong Kong.

Its wholly owned subsidiary in Singapore, MCL Land, won a tender in December to develop a residential site in Margaret Drive with a land cost of US$165 million.

A version of this article appeared in the print edition of The Straits Times on March 03, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe