Vibrant Group posts Q1 net profit of S$33.1m
VIBRANT Group on Friday posted a net profit of S$33.1 million for the first quarter ended July 31, soaring from S$742,000 a year ago.
The freights and logistics, real estate and financial services group's results got a hefty boost from the gain on disposal of Jurong Island Chemical Hub, gain on sale of 51 per cent of Sabana Investment Partners, and disposal of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust units.
As a result, other income came in at S$59 million compared with S$1.9 million the year before.
Revenue had a poorer showing, falling 10.3 per cent to S$37 million due to decreased business activity from the chemical logistics and financial leasing business.
Earnings per share was 4.78 Singapore cents, compared with 0.11 Singapore cent a year ago.
Vibrant shares gained 0.3 Singapore cent or 2.1 per cent to close at 14.6 Singapore cents on Friday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Toymaker Hasbro posts quarterly profit beat, slower sales decline
CapitaLand India Trust Q1 net property income up 19%
Digital Core Reit Q1 distributable income slips 2.4% to US$10.6 million
Hilton lifts 2024 profit forecast on international travel demand
Asia stocks rise on Wednesday amid Wall Street rally; STI up 0.6%
Orsted says Taiwan wind project to power TSMC on track for 2025 finish