Oceanus Q4 net profit plunges 99.5%.
plunged for the fourth quarter ended Dec 31 to 792,000 yuan from 222.1 million yuan a year ago, the group said in a Singapore Exchange filing on Friday.
This came despite revenue dropping just 7 per cent to 7.4 million yuan from the year-ago period. Earnings per share fell to 0.003 RMB cent from 0.91 RMB cent in the year-ago period. Oceanus did not provide a review of its Q4 performance, but noted a 48 per cent increase in its other operating expenses to 16.6 million yuan for the full year. It also recorded a 280 million yuan decrease in other non-operating income, due to the absence of a 55.8 million yuan compensation amount from the acquisition of its Gulei Farms by the Chinese authorities and gains on redemption of convertible loans.
These were partially offset by improved overall gross profit margins across all business segments and absence of other non-operating expenses related to the disposal of the Gulei Farms, among other things.For the full year, Oceanus posted a net profit of 4.9 million yuan, down 97 per cent from 189.3 million yuan in the previous year.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Banks stung by Q4 market volatilityTHE market turmoil swept through the three banks' results in the fourth quarter, with the trio also signalling weaker loan growth and margin expansion for this year. The banks' results were also underwhelming, by the Street's expectations. Read more at The Business Times.
Read more »
Straits Trading Q4 net profit more than doubles to S$14.1mSTRAITS Trading's net profit for the fourth quarter ended Dec 31 more than doubled to S$14.1 million, translating to an earnings per share of 3.5 Singapore cents, up from a restated 1.3 Singapore cents a year ago. Read more at The Business Times.
Read more »
HK's Q4 growth weakest in 3 years as trade war takes tollHONG KONG: Hong Kong's economic growth halved in the fourth quarter and the outlook for the financial hub is clouded by a trade war between Washington and Beijing, Financial Secretary Paul Chan said yesterday, as he announced his budget for the special administrative...
Read more »
China Sunsine Chemical Q4 net profit falls 17.7% to 108.6m yuanSPECIALTY rubber chemicals producer China Sunsine Chemical Holdings' fourth-quarter net profit dropped 17.7 per cent to 108.6 million yuan (S$21.9 million) from the preceding year. Read more at The Business Times.
Read more »
Centurion Q4 net profit soars to S$53.1m on net fair-valuation gainsNET fair-valuation gains helped lift net profit for worker and student accommodation provider Centurion Corp for its fiscal fourth quarter ended Dec 31, which jumped to S$53.1 million from the year-ago period's S$5.8 million.This was on the back of a S$48.6 million in net fair-valuation gains from its student accommodation in the UnitedKingdom.The group said: 'Despite uncertainties surrounding Brexit, a positive outlook for UK purpose-built student accommodation assets over the longer term and a strong market appetite to deploy capital in the sector have led to higher yield compression in 2018.' Excluding one-off items, profit from core business operations was S$9.5 million, S$1.3 million lower than the previous year. Read more at The Business Times.
Read more »
US: Stocks dip as Q4 growth slows[NEW YORK] Wall Street stocks retreated Thursday following data that showed US economic growth slowed in the fourth quarter even as it topped expectations. Read more at The Business Times.
Read more »
First Resources Q4 profit falls 49.2% to US$17.3mOIL producer First Resources said net profit fell 49.2 per cent to US$17.3 million for the fourth quarter ended Dec 31, 2018, from US$34.2 million a year ago. Read more at The Business Times.
Read more »
YZJ Shipbuilding net profit up 84% in Q4 despite revenue dropYANGZIJIANG (YZJ) Shipbuilding's fourth-quarter net profit rose 84 per cent year-on-year to 1.25 billion Chinese yuan (S$252 million), helped by favourable foreign exchange gains. Read more at The Business Times.
Read more »
Dyna-Mac back in the black with S$129,000 Q4 profitOFFSHORE oil and gas contractor Dyna-Mac Holdings on Thursday posted a net profit of S$129,000 for the fourth-quarter, reversing from a loss of S$21.9 million a year ago, on the back of higher revenue and a reduction in costs. Read more at The Business Times.
Read more »
mDR Ltd Q4 profit drops 41% on higher expenses, lower salesHIGHER expenses and lower sales took a toll on mDR Ltd's fourth-quarter results, as net profit fell 41 per cent to S$776,000 from S$1.3 million a year ago, the investment firm, which also distributes and sells mobile phones and various consumer electronics products, announced on Thursday night. Read more at The Business Times.
Read more »