Choo Chiang Holdings Ltd. Reports Earnings Results for the Six Months and Full Year Ended December 31, 2022
February 22, 2023 at 04:38 am EST
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Choo Chiang Holdings Ltd. reported earnings results for the six months and full year ended December 31, 2022. For the six months, the company reported sales was SGD 46.51 million compared to SGD 41.32 million a year ago. Net income was SGD 5.02 million compared to SGD 4.16 million a year ago. Basic earnings per share from continuing operations was SGD 0.0242 compared to SGD 0.02 a year ago. Diluted earnings per share from continuing operations was SGD 0.0242 compared to SGD 0.02 a year ago.
For the full year, the company reported sales was SGD 87.59 million compared to SGD 79.38 million a year ago. Net income was SGD 9.02 million compared to SGD 8.57 million a year ago. Basic earnings per share from continuing operations was SGD 0.0434 compared to SGD 0.0412 a year ago. Diluted earnings per share from continuing operations was SGD 0.0434 compared to SGD 0.0412 a year ago.
Choo Chiang Holdings Ltd. is an investment holding company. It operates in two segments: Distribution Business and Property Investment. The Distribution Business segment includes sales and retail of its electrical products and accessories. The Property Investment segment includes rental management of its portfolio of investment properties. It offers a range of electrical products and accessories for residential and industrial use at its approximately 10 retail branches in Singapore. Its product categories include cables, electrical circuit protection and wiring devices, lightning protection, electrical wiring accessories, power tools and hardware, fans, cable support system, luminaires, and lamps and accessories. It owns approximately 17 investment properties, which are rented out and also holds over four properties, which are used as retail branches/ warehouses for its operations. The Company's subsidiaries include Choo Chiang Marketing Pte. Ltd. and Choo Chiang Properties Pte. Ltd.