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Lum Chang posts 34.3% rise in Q2 net profit of S$4.04m
THU, FEB 13, 2020 - 8:05 PMMAINBOARD-LISTED builder Lum Chang Holdings' second-quarter earnings were lifted by more construction work, as well as bank interest income and currency gains against an earlier loss.
Net profit rose 34.3 per cent year-on-year to S$4.04 million for the three months to Dec 31, 2019, as revenue more than doubled from S$43.6 million to S$92.9 million, according to results on Thursday.
The higher turnover came on the back of more work for certain construction projects, which made up for the lower revenues at substantially completed projects.
Earnings per share for the quarter stood at 1.06 Singapore cents, up from 0.79 cent, while net asset value was 68.55 Singapore cents a share against 67.58 cents as at June 30, 2019.
For the half-year, net profit jumped by 77.4 per cent to S$7.04 million, as revenue surged from S$90.1 million to S$187.8 million.
Lum Chang' s outstanding value for in-progress construction projects was S$1.15 billion as at Dec 31, 2019, the group disclosed in its outlook statement.
Meanwhile, in property development, luxury landed project One Tree Hill Collection is expected to be finished by end-2020, with three of 14 units sold and an option granted for one more unit.
The Kelaty House serviced residence in London is expected to be completed in 2021, while marketing activities for Malaysian landed home project Twin Palms Sungai Long are continuing.
Still, Lum Chang warned that it is uncertain what impact - if any - the global Covid-19 outbreak will have on its full-year financial results.
The board has recommended an interim dividend of 0.3 Singapore cent a share, unchanged from the same period the year before, to be paid on March 12. The books close on Feb 28.
Lum Chang shares closed flat at S$0.36 on Thursday before the results were released.
https://www.businesstimes.com.sg/companies-markets/lum-chang-posts-343-rise-in-q2-net-profit-of-s404m
Thank maybe the only constn related coy profitable n getting good contracts is HLS. All the others going bankrupt liao. Take a look at LB n CES px like kena hammered every day.
Qanghoo ( Date: 18-May-2015 13:37) Posted:
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No need to wonder lah. Just look at the other constn coys. LB, CES, WH. All tanking. Just epitomises the spore stock mkt - Do due dlilgence also no use. Untradeable.
ohm136 ( Date: 18-May-2015 13:00) Posted:
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LC is very much under valued:-- C & CE backing per share = 31.9 cts NAV per share = 53.65 cts 9 mths' EPS = 5.13 cts. At the share price of 37.5 cts and div of 2 cts (over the previous yrs), the yield is 5.33%.
Not sure why the counter is inactive and its 52-wk price range is only at 39.5 cts & 34.5 cts.
The Link to LCH Q3 Results should be this
http://infopub.sgx.com/FileOpen/LCH_3rd_Quarter_Results_for_period_ended_31%20Mar%202015.ashx?App=Announcement& FileID=350295
katak88 ( Date: 18-May-2015 10:50) Posted:
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LUM CHANG HOLDINGS LIMITED
15-May-2015 17:46:35
Financial Statements and Related Announcement::Third Quarter Results
http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content& B=AnnouncementLast3MonthsSecurity& F=83VREGSUID0DA491& H=028587c64ba6a8c794dd18cfe66467a1f23937a68ed43389f2c2ed9862b34e8c& fileId=LCH_3rd_Quarter_Results_for_period_ended_31%20Mar%202015.pdf
Lum Chang&rsquo s 3Q earnings surge sixfold to $19.8 million on higher construction activity
By PC Lee / theedgemarkets.com | May 15, 2015 : 6:38 PM MYT
SINGAPORE (May 15): Lum Chang, the builder and property developer, saw 3Q earnings surge sixfold to $19.8 million from a year ago.
Revenue increased 43% to $66.9 million due mainly to increase in work performed in three construction sites.
As at end March, cash and cash equivalents stood at $123.3 million.
Lum Chang said local construction activity in the quarter expanded 3.3% from a year ago, fuelled by an increase in private sector building.
In Feb, the group successfully bid for a $487 million contract for the construction of a mixed development at Yishun.
The group said it continues to market its landed residential developments in Twin Palms Sungai Long and Twin Palms Kemensah, Malaysia.
Lum Chang closed 0.5 cents at 37 cents today.
LCD = lum chang spin-off ma..... not ?
Means ?
shygiraffe ( Date: 02-Jul-2014 09:15) Posted:
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need monitor LCD
Any view on this stock?
Lum Chang unit buys UK property for $64 mil
http://www.theedgesingapore.com/the-daily-edge/business/46625-lum-chang-unit-buys-uk-property-for-64-mil.html
...last: $0.335...
Slowly moving up.
Huge volume of buyers trying to get at lower prices.
Stable yield of more than 5%. 2c dividends for past few years.
Trading CD (cum dividends) today.
At 35c, yield is 2/35 = 5.71%
Stronger contribution from a Malaysian subsidiary lifted Lum Chang Holdings' net profit by 2 per cent to $21.5 million.
Revenue for the year ended June 30 climbed by 75 per cent to $494.6 million.
This was mainly due to the start of revenue recognition for two construction projects, which reported revenues amounting to $125.4 million.
Higher revenue of $39.2 million was also due to the completion of more phases at one of the group's Malaysian development.
Full Year results out
http://infopub.sgx.com/FileOpen/LCH_FullYearFinancialResultsForYearEnded30Jun13.ashx?App=Announcement& FileID=254397
Earnings up 2%.
Final quarter dividend 1.25c
Full year dividend 2c.
Interest rates will eventually go up so there is need to speculate about when or how it will affect.
All companies, regardless of REITS or not, will be affected once i/r increases.
We just need to look for fundamentally strong companies that are strong enough to weather such storms.
In the case of Lum Chang, their cash holdings + free cash flow will be adequate to tide them over any hikes in i/r.
bryancbq ( Date: 25-Aug-2013 21:48) Posted:
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How will the coy be affected if interest rates goes up!
StewardLittle ( Date: 25-Aug-2013 18:25) Posted:
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Lum Chang full year report out next week. Expect the dividend to remain the same as the past few years at 2c (5.8% yield).
Trading at P/E 6.24 and P/B 0.78, seems like a reasonably cheap buy.
ROE consistent with past few years.
Higher levels of gearing this year is due to purchase of freehold building in London. But this will help the company generate rental income and increase revenue for the years to come.
Outstanding book order close to 1billion SGD + Joint Ventures with Frasers Centrepoint + Esparina Residences TOP = No worries for the future till at least 2016.
THIRD QUARTER RESULTS * FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT
http://info.sgx.com/webcorannc.nsf/AnnouncementToday/2E064AE75F5EFA2C48257B6B002EC6E7?opendocument