{"id":3696,"date":"2016-05-31T15:12:34","date_gmt":"2016-05-31T15:12:34","guid":{"rendered":"http:\/\/minutes.machine.market\/?p=3696"},"modified":"2016-05-31T15:12:34","modified_gmt":"2016-05-31T15:12:34","slug":"3696-2","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/3696-2\/","title":{"rendered":"Crane Rental firm Tat Hong deepens loss in Q4, drops dividend"},"content":{"rendered":"

Crane rental firm Tat Hong Holdings<\/a><\/strong> sank deeper into the red in the fourth quarter after it posted a S$39.8 million loss as revenues slid, impairment charges were announced and\u00a0weakness in the construction sector continued\/<\/p>\n

Revenue slid 7 per cent year-on-year to S$126.72 million over the same period.<\/p>\n

Tat Hong incurred a loss per share of 6.34 Singapore cents for the quarter, compared with a loss per share of 2.71 Singapore cents the previous year.<\/p>\n

Net asset value per share fell to S$0.93 as at March 31 this year, down from S$1.03 as at March 31 last year.<\/p>\n

The group did not declare a dividend. It had declared a final dividend of S$0.01 the previous year.<\/p>\n

Tat Hong shares lost S$0.015 to close at S$0.52 on Friday before its results were released.<\/p>\n

in Q4, the firm\u2019s tower crane rental segment was the only division that saw positive YoY sales growth of 4%, as well as raised gross profit margin of 37.7%. This was bolstered by improved utilization rates due to new projects commenced. On top of this, the quarter saw lower depreciation and crane operator expenses.<\/p>\n

Moving forward, Tat Hong sees sustained weakness in demand in most of its markets.<\/p>\n

\u201cThe tepid outlook for the industry will likely continue to weigh on earnings recovery,\u00a0while the group\u2019s share price may be supported to some extent for now in view of a possible transaction that may or may not lead to an acquisition of its issued share capital,\u201d OCBC BANK reports.<\/p>\n

\u201cMeanwhile, we expect further scaling down of noncore, unprofitable businesses among other measures to improve their operating performance,\u201d adds OCBC BANK.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crane rental firm Tat Hong Holdings sank deeper into the red in the fourth quarter after it posted a S$39.8 million loss as revenues slid, impairment charges were announced and\u00a0weakness in the construction sector continued\/ Revenue slid 7 per cent year-on-year to S$126.72 million over the same period. Tat Hong incurred a loss per share […]<\/p>\n","protected":false},"author":1,"featured_media":3702,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[3,6],"tags":[871,1448],"yoast_head":"\nCrane Rental firm Tat Hong deepens loss in Q4, drops dividend - MachineMarket Blog<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cranemarket.com\/blog\/3696-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crane Rental firm Tat Hong deepens loss in Q4, drops dividend - MachineMarket Blog\" \/>\n<meta property=\"og:description\" content=\"Crane rental firm Tat Hong Holdings sank deeper into the red in the fourth quarter after it posted a S$39.8 million loss as revenues slid, impairment charges were announced and\u00a0weakness in the construction sector continued\/ Revenue slid 7 per cent year-on-year to S$126.72 million over the same period. 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