Yahoo Finance Thakral reports lower earnings in absence of revaluation gains
Thakral’s net asset value as of June 30 was 109.26 cents, versus Aug 4 closing price of 66 cents
Thakral Corporation has reported revenue of $56.5 million for 1HFY2022 ended June, up 14% y-o-y, with stronger contribution from its business of distributing consumer products.
However, it did not enjoy revaluation gains the way it did in 1HFY2021. It booked higher costs in marketing, inventory and labour.
As such, earnings for the period was down 58% y-o-y to $3.7 million.
The company plans to maintain an interim dividend of 2 cents per share, which will go ex on Aug 16 and be paid on Aug 25.
Thakral’s net asset value as of June 30 was 109.26 cents, down slightly from 115.53 cents as at 31 December 2021.
Besides praising the improvement in the consumer products segment, Thakral’s chairman Natarajan Subramaniam observes that the company’s real estate investments in the first half of the year and its over-50s lifestyle resorts, GemLife, remained resilient.
“In view of the softer global economy, market uncertainties such as rising inflation, geopolitical tensions and persistent supply chain constraints, the group will need to stay vigilant and nimble to adapt and take advantage of favourable opportunities and manage risks that may arise in the coming months as global economies grapple with the changing market dynamics punctuated by the ongoing geopolitical conflicts and COVID-19 pandemic measures,” he says.
Thakral shares closed Aug 4 at 66 cents, up 1.54% for the day.
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