Company Briefs: Tung Lok Restaurants

Tung Lok Restaurants

Tung Lok Restaurants booked a 6.4 per cent increase in full-year net profit at $611,000, up from $574,000 a year earlier.

Revenue for the financial year ended March 31 rose 1.3 per cent to $86 million.

Tung Lok attributed the increase in turnover to higher contributions from the opening of two rebranded outlets and a new outlet during the year. Higher sales were also recorded at its existing outlets and by its catering business, the firm said yesterday. However, the revenue increase was partly offset by the closure of two outlets, as well as the "de-consolidation" of former subsidiary PT Ming Cipta Rasa.

Earnings per share for the year was 0.22 cent, down from 0.23 cent in the previous year, while net asset value per share was 6.11 cents as at March 31, up from 5.83 cents at March 31 last year.

Stamford Land Corporation

Stamford Land Corporation posted a net loss of about $5 million for the fourth quarter , reversing the $5.4 million net profit of a year earlier. Revenue for the three months to March 31 came in at $60.5 million, down 46 per cent.

The firm said the decline was due largely to the challenging business environment and a 4 per cent decline in the Australian dollar. Stamford owns and operates a portfolio of luxury hotels in major cities in Australia and New Zealand.

Loss per share was 0.58 cent, compared with earnings per share of 0.62 cent in the fourth quarter of 2015. Net asset value per share was 52 Singapore cents as at March 31, down from 53 Singapore cents a year ago.

It recorded a full-year net profit of $22.4 million, down 24.6 per cent from the previous year, while revenue declined 26.2 per cent to $226.5 million.

GS Holdings

GS Holdings, a centralised commercial dishwashing firm, has won a contract with a total annualised revenue of up to $1.2 million from the Suntec Singapore Convention & Exhibition Centre.

The two-year contract, which starts nect month, has an option for renewal for an additional year. It involves providing Suntec Singapore with "on-site dishwashing services, as well as night kitchen cleaning and wet waste management services".

The deal lifted its order book to $21.3 million.

A version of this article appeared in the print edition of The Straits Times on May 19, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe