AusGroup wants to make inroads into the Northern Territory and Queensland markets.

AUSGROUP doubles 1Q net profit, order books remain strong at A$303m

CEO Laurie Barlow is confident about demand for Ausgroup's services. NextInsight file photo
AUSGROUP’S 1Q2013 profit after tax jumped 100.9% to A$6.3 million, continuing its stellar 4Q2012 performance despite the softening of commodity prices.

Revenue increased 25.9% to A$155.9 million while net margins widened significantly from 2.5% during 1Q2012 to 4.1% in 1Q2013.

The long term outlook for the Australian resources sector in the Western Australian, Northern Territory and Queensland markets – in oil and gas, LNG, coal seam methane and in iron ore mine development -- continues to be positive.

This has led the AusGroup management to be confident of sustained demand for its multi-disciplinary contractor services over the next few years.

The company had healthy cash reserves of A$45.2 million as at 30 September and order books of A$303 million as at 8 November.

“We are experiencing a consistent level of demand for pricing and tendering requests. We expect pricing to hold and tendering activity to continue as committed major projects enter their construction phase,” said CEO and Managing Director, Laurie Barlow.

Related story: AUSGROUP Seeks RTO Deal, NAM CHEONG In KL Roadshow



DMX posts 3Q net profit growth of 8.6% to US$5.8m

CEO Jismyl Teo wants to create differentiated software, services and applications to strengthen DMX's market position. NextInsight file photo
DMX Technologies, a leading integrated network infrastructure and digital media solutions provider, has posted a 8.1% year-on-year growth in 3Q2012 revenue to US$96.3 million. Net profit attributable to shareholders increased 8.6% to US$5.8 million.

Despite the challenging economic environment, DMX achieved growth across all its business segments. The Group also improved the quality of its earnings, as the shift towards more recurring, higher-margin revenue streams yielded higher margins in 3Q2012.

“We are riding on the network convergence push as well as digitization of the cable TV industry in China,” said CEO Jismyl Teo.

The number of Chinese digital cable TV and IPTV subscribers is expected to reach 217 million and 41 million respectively by 2015, according to iSuppli.

In addition, the State Administration for Radio, Film and Television expects the value added service fees to cable operators to reach approximately Rmb 55 billion by 2015, which is almost the market size for basic digital cable TV.

To align itself with these positive developments, the Group will continue to differentiate itself in China by leveraging on its Vision TV, Vision CEP and Vision TA software platforms.

Order books as at 30 September 2012 were US$70.2 million.

Related story: DMX: Cloud Computing To Drive Growth In IT Spending



CHASEN's 2Q revenues fall 17%, forays into water treatment

'This maiden TOT contract is a breakthrough for Chasen,' said CEO Low Weng Fatt.
Photo: Company

The prolonged lacklustre performance of the major world economies has affected demand for Chasen’s specialist relocation services.

Its 2Q2013 revenue decreased by 17% to S$20.9 million as there were more relocation projects in the previous quarter. Profit attributable to shareholders is down 56% at S$924,000.

The company expects the slowing down of relocation activities to continue for the rest of its current financial year.

It is diversifying into related activities to address the slowdown in its core business.

In September, it announced that its wholly-owned subsidiary, Global Technology Synergy, had entered a Transfer-Operate-Transfer ("TOT") agreement with the Jilin Economic Technology Development Board for a purified water treatment plant and a wastewater treatment plant at a total investment value of S$58.2 million.

The purified water treatment plant is expected to start operation by early next year and the wastewater treatment plant is expected to start operation by the 2nd quarter of next year.

This may be a maiden TOT project for Chasen but its managing team has years of experience in operating waste water treatment facilities in China.

”We expanded into water treatment so that we can eventually provide turnkey relocation solutions for water treatment plants,” said CEO Low Weng Fatt.

It has also started a new Technical and Engineering project in Malaysia, and this business segment is expected to contribute to 2H2013.

Related story: CHASEN HOLDINGS: Expanding To Western And Frontier Markets

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