KUALA LUMPUR (Aug 23): Based on corporate announcements and news flow today, companies in focus tomorrow (Thursday, Aug 24) may include: UOA Development, Hua Yang, UEM Sunrise, IHH, Hap Seng Plantations, TH Heavy, IJM Corp, Magnum, Econpile, IJM Plantations, Dayang, Genting Plantations and D&O Green Technologies.
UOA Development Bhd net profit for the second quarter ended June 30, 2017 rose 33.34% to RM165.65 million from RM124.23 million a year earlier, driven by contribution from South View Serviced Apartments which were completed during the current quarter. Revenue grew to RM465.61 million from RM294.81 million.
For the six months ended June 30, UOA Development said its net profit dipped to RM209.03 million from RM220.30 million, on the back of revenue of RM620.69 million compared with RM495.98 million a year earlier.
Hua Yang Bhd is confident of meeting its RM400 million new property sales target for the financial year ending March 31, 2018 (FY18) as the real estate developer prepares to launch an estimated RM2 billion project in Puchong, Selangor, during 2HFY18.
"Our FY18 sales target is RM400 million. We are still confident that we can achieve that but the first half has been quite challenging, so hopefully in the second half with the new launches we will be able to recover quite a bit of sales from that," he said after Hua Yang's annual general meeting (AGM).
UEM Sunrise Bhd's net profit for the second quarter ended June 30, 2017 jumped 73% to RM94.55 million from RM54.66 million a year earlier, as revenue rose 67% to RM897.8 million from RM537.81 million.
The better earnings was a result of higher property development revenue from the progress made by the group's Residensi 22 project in Mont Kiara, Teega in Puteri Harbour and Aurora Melbourne Central in Australia.
The group also attributed its improved revenue to the sale of Alderbridge land in Richmond, Canada, amounting to C$113 million (RM371 million), which was disposed of to South Street Development Group.
Cumulative net profit for the first six months of the year climbed 170% to RM155.82 million from RM57.68 million a year ago, as revenue grew 81% to RM1.44 billion from RM795.56 million.
IHH Healthcare Bhd saw its net profit increase 29% to RM316.56 million or 3.84 sen per share for the second quarter ended June 30, 2017, from RM246.09 million or 2.99 sen per share for the previous year's corresponding quarter, helped by a one-off gain.
Revenue for the quarter rose 12% to RM2.77 billion from RM2.47 billion a year earlier.
IHH said it realised a one-off gain of RM241.1 million during the quarter from the divestment of its non-core minority stake in Apollo Hospitals in May.
For the first half of its financial year, net profit jumped 63% to RM786.61 million from RM481.57 million in 1HFY16, while cumulative revenue rose 10% to RM5.46 billion from RM4.95 billion.
Hap Seng Plantations Holdings Bhd reported a 46% jump in net profit to RM28.86 million or 3.61 sen per share for the second quarter ended June 30, 2017, from RM19.79 million or 2.48 sen per share in 2QFY16.
Revenue for the quarter gained 21% to RM133.51 million from RM110.56 million a year earlier, as it benefited from higher average selling prices and sales volume of crude palm oil.
For the first half of the year, net profit almost doubled to RM62.97 million from RM36.44 million in the previous corresponding period. Cumulative revenue increased 29% to RM277.61 million from RM214.72 million.
TH Heavy Engineering Bhd’s net loss widened 145% to RM16.79 million or 1.5 sen per share for the second quarter ended June 30, 2017 from RM6.85 million or 0.61 sen per share a year earlier, largely on unrealised foreign exchange (forex) losses.
Revenue also contracted 69% year-on-year to RM2.38 million in 2QFY17, from RM7.72 million a year ago, amid lower fabrication activities.
For the six months ended June 30, net loss shrank 6% to RM37.97 million, from RM40.29 million, while cumulative revenue plunged 79% to RM4.63 million, from RM22.24 million.
IJM Corp Bhd's net profit grew 9% to RM126.4 million or 3.49 sen per share for the first quarter ended June 30, 2017, from RM115.52 million or 3.22 sen per share in the previous year's corresponding quarter.
Its quarterly revenue grew 12% to RM1.47 billion from RM1.31 billion a year earlier.
The group said it saw profit contribution growth from its construction, property development and infrastructure segments.
Number forecast operator Magnum Bhd’s net profit shot up 175% to RM59.96 million in the second quarter ended June 30, 2017 compared with RM21.84 million a year ago on higher gaming profit but reduced by loss from investment holdings and other divisions.
Quarterly revenue, however, decreased marginally by 0.83% to RM620.58 million against RM625.78 million previously, due to a decline in gaming revenue.
For the cumulative six months period, Magnum’s net profit fell marginally to RM90.53 million from RM90.68 million a year ago while revenue dipped 4.4% to RM1.32 billion from RM1.38 billion previously on lower game revenue.
Econpile Holdings Bhd's net profit for the fourth quarter ended June 30, 2017 was 12.23% higher at RM20.86 million compared with RM18.58 million in the same corresponding quarter last year.
Its quarterly revenue was also up 22.84% at RM157.68 million from RM128.35 million a year ago.
This brings its full-year net profit for FY17 to RM80.77 million, representing a 19.59% increase from RM67.54 million last year, despite a slight erosion in its gross profit margin from 23.9% to 22.4%.
Its cumulative revenue rose 25.92% year-on-year to RM581.91 million from RM462.06 million.
IJM Plantations Bhd's net profit for its first quarter ended June 30, 2017 shrank 32.96% to RM16.9 million from RM25.21 million a year earlier on a net unrealised foreign exchange (forex) loss on dollar-denominated borrowings.
The group recorded an unrealised forex loss of RM800,000 compared to a gain of RM5.4 million in the previous year's corresponding quarter.
Revenue for the quarter was up 32.44% at RM184.59 million from RM139.38 million a year earlier as more crops were harvested from a larger matured area in Indonesia and fresh fruit bunches (FFB) production was higher, recovering after prolonged dry weather.
Dayang Enterprise Holdings Bhd's net loss widened to RM48.1 million in the second quarter ended June 30, 2017 (2QFY17) from RM1.95 million a year earlier due to lower charter rates, impairment losses and foreign exchange losses.
Quarterly revenue dropped 1.3% to RM191.02 million from RM193.58 million.
For the cumulative six months of FY17, Dayang sank deeper in the red with a net loss of RM90.8 million, versus the RM28.34 million recorded in 1HFY16, although revenue improved by 1.2% to RM308.93 million from RM305.41 million, attributed to higher value of work order received and performed in the period under review.
Genting Plantations Bhd's net profit for the second quarter ended June 30, 2017 more than doubled to RM70.98 million from RM33.93 million a year ago, on higher revenue.
Revenue grew 44% year-on-year to RM446.25 million from RM309.12 million, thanks to the combination of stronger palm products selling prices, higher FFB production and higher sales of biodiesel and refined palm products.
D&O Green Technologies Bhd has requested for the trading of its shares to be suspended from 9am tomorrow, pending the release of a material announcement.
However, the company, which is involved in LED packaging, did not specify when the trading of its shares will resume.
There has been a surge of interest in D&O’s shares since the start of the year, with the counter rising 102% year to date. It hit a high of 74 sen in March.
Today, the stock closed 0.5 sen or 0.82% lower at 61 sen, for a market capitalisation of RM604 million.