SINGAPORE - The following companies saw new developments that may affect trading of their securities on Wednesday :
Sats: The airport and food services provider on Tuesday posted a 7.6 per cent drop in net profit for the second quarter ended Sept 30, on lower cargo volumes and investments in growth initiatives. Net profit was $60.7 million compared with $65.7 million a year ago, while revenue improved 9.8 per cent to $497.4 million. Earnings per share was 5.4 cents, down from 5.9 cents in the second quarter of the previous financial year. Shares of Sats closed flat at $5.09 before the results were announced.
Oxley Holdings: The property developer on Tuesday posted a net profit of $12.2 million for the first quarter ended Sept 30, compared to a restated net loss of about $655,000 a year ago. This came on the back of higher gross profit from hotels and development projects in Singapore and gains on revaluation of a property in Cambodia and mark-to-market of the derivative financial instruments. Oxley shares closed down 0.5 cent or 1.45 per cent at $0.34 before the results were announced.
Cosco Shipping International : The group on Tuesday posted worse performance as net profit fell for another quarter and its board chairman stepped down. Third-quarter net profit for Cosco - which deals in logistics and ship repairs, among other businesses - declined 46 per cent to $1.2 million, largely on higher operating costs. Turnover for the quarter ended Sept 30 was $42.1 million, largely unchanged from $42.2 million for the same period a year ago. Cosco shares closed at $0.
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