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Reports Singapore

Singapore stock market and companies daily report (Spackman Entertainment, Linc Energy, GRP) (September 01, 2014)

September 1, 2014, Monday, 05:11 GMT | 01:11 EST | 09:41 IST | 12:11 SGT
Contributed by Shares Investment


GRP’s revenue slipped 2.7 percent to $27.1 million for the year ended 30 June 2014, mainly attributable to lower contributions from the hose and marine and measuring instrument segments. As the company was able to tame most of its expenses which helped to cushion the impact on its earnings, earnings declined 3.8 percent to $2.8 million. The company has declared a final dividend per share of $0.005.

Linc Energy Group registered a flat revenue of A$33.8 million for the fourth quarter ended 30 June 2014, mainly attributable to a decrease in US oil and gas net sales volume which offset gains in the group’s operations in Uzbekistan and its clean energy consulting segment. Coupled with a more than four-fold increase in cost of sales mainly due to a one-off adjustment to depletion and accretion expenses, the company sank deeper into losses. For the full year, revenue was up 19.3 percent while losses came in at A$223.3 million.

LionGold Corporation has agreed to fully dispose of its shares in the capital of Acadian Mining Corporation for approximately $9.7 million. The target company is a company incorporated in Canada and owns certain mining claims located in Nova Scotia, Canada. The disposal will result in a net loss of $1.1 million after taking into account of the associated costs of the transaction, current market value of the sale shares and foreign currency translation reserve.

Metech International posted a 50.1 percent jump in revenue to $11.9 million for the fourth quarter ended 30 June 2014, underpinned by higher contributions from the company’s operations in Singapore and the US. In absence of contributions from discontinued operations in the corresponding quarter last year, net profit sank 44.7 percent to $0.5 million. For the full year, revenue gained 35.8 percent to $39.8 million while earnings fell 94 percent to $0.1 million.

Spackman Entertainment Group saw a more than 10-fold increase in revenue to US$4.8 million for the second quarter ended 30 June 2014, attributable to contributions from two films, For the Emperor and My Brilliant Life. Despite the soar in revenue, the decline in gross margin accompanied with higher general and administrative expenses led the company to post a net loss of US$0.5 million. For the six months, revenue advanced more than 13 folds to $US8.7 million and the company fell deeper into losses.

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