not vested
Yoma Strategic Holdings: Diversification efforts bearing fruit
Yoma’s 4QFY17 PATMI increased to S$24.1m, up from S$8.9m in the same period last year mostly due to higher fair value gains on investment properties and improved gross profit margins driven by the sales of residences and LDRs in 4QFY17 (as compared to mostly sale of buyback units in StarCity in 4QFY16).
In terms of the topline, FY2017 revenues increased 11.0% to S$124.2m. Notably, about 47% of revenues were attributed to the Yoma’s non real estate businesses which points to management’s diversification efforts bearing fruit.
Looking ahead, while the property market in Myanmar saw some softness over the year, management reports that the Yangon property market is showing mild signs of recovery and they remain cautiously optimistic about the sector.
In addition, the group will be opening its first KFC store in Mandalay in Jun 2017 and will increase its store count nationwide to 22 by the end of FY2018.
A final and final cash dividend of 0.25 S-cents per share has been proposed.
Source: OCBC