Yahoo Finance These 4 Singapore Stocks’ Share Prices Surged by Double Digits in a Year: Can Their Run Continue?
Stock prices move up and down for a multitude of reasons.
However, one key reason why the share prices of certain companies keep heading up is because they continue to grow their profits and cash flows.
Hence, investors can look to soaring share prices as an indicator to dig further into a company’s financial performance.
We singled out four Singapore stocks whose share prices shot up by double-digits in the past year.
This list of stocks could make it into your buy watchlist if their business prospects seem favourable.
ComfortDelGro Corporation Limited (SGX: C52)
ComfortDelGro Corporation, or CDG, is a land transport company operating a total fleet size of 34,000 buses, taxis, and rental vehicles.
The group also has 210 km of rail network in operation and under development with global operations spanning 12 countries.
Shares of the land transport giant have climbed 23.5% in the past year to hit a 52-week high of S$1.47.
CDG reported a commendable set of earnings for 2023.
Revenue inched up 2.6% year on year to S$3.9 billion with operating profit edging up 0.8% year on year to S$272.1 million.
Net profit excluding exceptional items jumped 26.6% year on year to S$180.5 million.
The group also paid out a total core dividend of S$0.0666 for 2023, 44.5% higher than the S$0.0461 dished out a year ago.
The good news doesn’t stop here.
Just last week, CDG announced that its subsidiary Metroline was awarded four contracts worth around S$720 million to operate four bus franchises over five years in the UK.
Grand Banks Yachts (SGX: G50)
Grand Banks Yachts, or GBY, is a manufacturer of luxury recreational motor yachts under the brands Grand Banks, Eastbay, and Palm Beach.
The group has a manufacturing yard in Johor, Malaysia and service yards in the USA and Australia.
GBY’s share price has risen by 20% in the past year to hit its 52-week high of S$0.36.
The yacht producer reported a sterling set of earnings for the first half of fiscal 2024 (1H FY2024) as revenue jumped 29.5% year on year to S$65 million.
Net profit soared 91.7% year on year to S$6.9 million and the group declared an interim dividend of S$0.005 per share.
GBY snagged 11 new boat orders for 1H FY2024, similar to a year ago.
The group has a net order book of S$137.3 million and remains confident in the long-term growth of the luxury motor yacht market.
The recent expansion of its Pasir Gudang yard will increase production capacity by 25% and help to reduce wait times for the construction of larger and more fuel-efficient yacht models.
Sembcorp Industries Ltd (SGX: U96)
Sembcorp Industries, or SCI, is an energy and urban solutions provider with a balanced energy portfolio of 21.3 GW and a project portfolio spanning more than 14,000 hectares across Asia.
Shares of the blue-chip utility company have climbed by nearly 29% in the past year to close at S$5.52.
SCI turned in a mixed set of earnings for 2023.
Its revenue fell by 10% year on year to S$7 billion but its net profit before exception items jumped 38% year on year to S$1 billion.
In line with the strong results, the group doubled its final ordinary dividend to S$0.08 from S$0.04 a year ago.
The total dividend for 2023 came up to S$0.13, slightly above the total dividend of S$0.12 for 2022.
SCI will continue to boost its renewables portfolio as outlined during last year’s Investor Day.
The group intends to increase its gross renewables capacity to 25 GW by 2028, up from 13.8 GW as of 20 February 2024.
In early March, SCI formed a joint venture with PT PLN Nusantara Renewables to build its first utility-scale integrated solar and energy storage project in Indonesia.
This project will be backed by a 25-year power purchase agreement with Persero.
In the same week, the group was awarded a 440 MW wind-solar hybrid power project in India that will lift its global renewables capacity to 14.3 GW once completed.
Aztech Global (SGX: 8AZ)
Aztech Global is an electronics design, engineering, and manufacturing solutions provider.
The group has four R&D centres in Singapore, Hong Kong and China along with three manufacturing facilities in Dongguan and Johor.
Shares of the electronics company have risen by almost 20% to S$0.98.
Aztech Global reported a solid set of earnings for 2023 as revenue rose 9.3% year on year to S$896.3 million.
Net profit climbed 48.8% year on year to S$100 million.
A final dividend of S$0.05 was declared, bringing 2023’s total dividend to S$0.08, a big jump from the S$0.045 paid out in 2022.
The group’s 300,000-square-foot Pasir Gudang manufacturing facility is now fully operational.
Aztech Global’s order book stood at S$333.9 million and is slated for completion this year.
The group also reported good news in securing new customers including a US-based company providing smart baby monitoring and health-tech wearable solutions as well as a Singapore-based company dealing with respiratory monitoring devices.
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Disclosure: Royston Yang does not own shares in any of the companies mentioned.
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