Bonvests Holdings Limited announced unaudited group earnings results for the second quarter and half year ended June 30, 2018. For the quarter, the company reported revenue of SGD 50,033,000 compared to SGD 49,474,000 a year ago. This was due mainly to higher revenue from the Hotel Division. Profit from operations was SGD 1,011,000 compared to SGD 10,699,000 a year ago. Loss before taxation was SGD 673,000 compared to profit of SGD 9,436,000 a year ago. This was mainly due to lower fair value gain on investment properties and foreign currency translation loss of SGD 2.755 million due to strengthening of United States Dollar. Loss attributable to equity holders of the company was SGD 1,571,000 or 0.391 cents per basic and diluted share compared to profit of SGD 7,970,000 or 1.982 cents per basic and diluted share a year ago. Net cash generated from operating activities was SGD 10,924,000 compared to SGD 8,543,000 a year ago. Net cash generated from operating activities was due mainly to positive cash flow generated from business operations. Purchase of property, plant and equipment was SGD 12,967,000 compared to SGD 11,368,000 a year ago.

For the half year, the company reported revenue of SGD 108,949,000 compared to SGD 105,036,000 a year ago. Profit from operations was SGD 13,712,000 compared to SGD 19,873,000 a year ago. Profit before taxation was SGD 10,674,000 compared to SGD 17,321,000 a year ago. Profit attributable to equity holders of the company was SGD 7,658,000 or 1.906 cents per basic and diluted share compared to SGD 13,911,000 or 3.46 cents per basic and diluted share a year ago. Net cash generated from operating activities was SGD 21,391,000 compared to SGD 12,220,000 a year ago. Purchase of property, plant and equipment was SGD 24,829,000 compared to SGD 16,508,000 a year ago.

For the quarter, the company reported property, plant and equipment written off of SGD 146,000 against SGD 139,000 a year ago.