GP Industries
GP Industries said its third-quarter net profit rose by 117.5 per cent to $17.7 million on the back of higher other operating income, mainly as a result of a gain on disposal of assets by the battery business.
Revenue for the three months to Dec 31 slipped 1 per cent to $267.8 million.
Earnings per share firmed to 3.65 cents from 1.68 cents previously, while net asset value per share climbed to 76.05 cents compared to 70.69 cents as at March 31.
Creative Technology
Soundcard maker Creative Technology reduced its second-quarter net loss to US$4.2 million (S$5.6 million) from US$6.5 million in the same period last year.
Revenue for the three months to Dec 31 fell by 6 per cent to US$20.9 million, due to the uncertain and difficult market conditions which continued to affect sales of the group's products.
Creative expects no significant change in the market conditions and said that the overall market for its products remains challenging.
Revenue is expected to be lower in the third quarter and it expects to report an operating loss.
Roxy-Pacific Holdings
A subsidiary of Roxy-Pacific Holdings has agreed to buy a property, 19 Lorong Kismis, for $5.7 million.
The property, a residential site with a tenure of 99 years from Nov 9, 1960, has an estimated total land area of 9,473 sq ft with an existing plot ratio of 1.4.
Roxy-Pacific said it intends to amalgamate the property with the other development it has agreed to buy, Kismis View, for residential development.
The combined site has a total estimated land area of 100,336 sq ft, it said.
The cost of the acquisition will be financed by internal funds and bank borrowings. It is not expected to have a material impact on Roxy-Pacific's financial results for the current financial year.