Hello, everyone. Here are three things about the local stock market that you might be interested in today.
1. The Straits Times Index (SGX: ^STI) ended Thursday at 3,513.9, down 0.1% or 4.1 points.
Yangzijiang Shipbuilding Holdings Ltd (SGX: BS6) was the biggest loser of the index after its shares tumbled 4% to S$1.45.
Yesterday, the shipbuilder announced its 2017 full-year results where net profit grew 67% year-on-year to RMB2.93 billion. This was on the back of a 27% rise in revenue. The firm proposed a first and final dividend of 4.5 Singapore cents per share, up from 4.0 cents a year ago.
On the other hand, CapitaLand Commercial Trust (SGX: C61U) climbed the most today. The real estate investment trust’s units added 1.2% to S$1.75.
2. Straco Corporation Ltd (SGX: S85), which owns tourism assets in China and Singapore, ended the day at S$0.81, down 2.4%.
For the full year ended 31 December 2017, the firm’s revenue climbed 2.6% year-on-year to S$128.4 million while its net profit rose 2.7% to S$47.7 million. Despite the better performance for the year, the total dividend for 2017 was unchanged at 2.5 Singapore cents per share. To learn more about the earnings, you can check out the coverage here.
3. This morning, MindChamps PreSchool Ltd (SGX: CNE), the number one premium preschool operator in Singapore, announced its financial results for the twelve months ended 31 December 2017.
Revenue for 2017 surged from S$18.4 million to S$22.8 million, a growth of 24% year-on-year. The company said the improvement was due to 1) higher student intake; 2) acquisitions of four preschool businesses in Australia and one preschool business in Singapore; and 3) higher royalty fees from the increased number of franchisee-owned-franchisee-operated centres.
Despite the increase in the top-line, earnings declined by 15% to S$4.6 million mainly due to expenses arising from merger and acquisition activities and the company’s initial public offering. MindChamps went public at the end of November 2017.
The preschool operator’s shares slipped 2% to S$0.74.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of Straco Corporation. Motley Fool Singapore contributor Sudhan P owns shares in Straco Corporation and units in CapitaLand Commercial Trust.