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Share Prices of These 3 Singapore Stocks Shot Up 36% or More Year-to-Date: Can Their Run Continue?

Grand Banks Yachts
Grand Banks Yachts

One method of identifying investments is to look at stocks whose share prices have performed well in recent months.

This good performance could be indicative of an improvement in the business which led investors to bid up the price of the shares.

As the saying goes – if the business does well, the share price will naturally follow.

We shine the spotlight on three Singapore stocks that climbed 36% or higher so far this year.

These businesses could have what it takes for you to add them to your buy watchlist.

Riverstone Holdings (SGX: AP4)

Riverstone is a manufacturer of cleanroom gloves used in highly controlled environments and premium nitrile gloves used in the healthcare industry.

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The group has six manufacturing facilities in Malaysia (4), Thailand (1), and China (1) with an annual production capacity of 10.5 billion gloves.

Riverstone’s share price has shot up 59.3% year to date (YTD) to close at its 52-week high of S$0.96.

For the first quarter of 2024 (1Q 2024), revenue rose 4.8% year on year to RM 249.5 million, led by the demand recovery for cleanroom gloves.

Gross profit jumped 57.3% year on year to RM 97.5 million while net profit climbed 54.5% year on year to RM 72.2 million.

The glove manufacturer generated a positive free cash flow of RM 44.8 million for the quarter, up 19% year on year.

An interim dividend of RM 0.04 was declared.

CEO Wong Teek Son is optimistic about the group’s cleanroom glove segment and believes that the recovery in the semiconductor and consumer electronics industries should continue to drive orders for gloves.

For 2024, Riverstone is also constructing new production lines to increase production capacity to cater to longer-term demand for cleanroom gloves.

Centurion Corporation (SGX: OU8)

Centurion Corporation owns, develops, and manages purpose-built workers’ accommodation assets (PBWA) in Singapore and Malaysia and student accommodation assets in Australia, the UK, and the US.

Its portfolio stood at 34 operational assets with around 67,347 beds as of 31 March 2024.

Centurion’s share price has risen by 36.6% YTD to close at S$0.56, not far from its 52-week high of S$0.58.

The accommodation operator released an encouraging set of numbers for its first quarter 2024 (1Q 2024) business update.

Revenue jumped 30% year on year to S$61.1 million, led by a 31% year-on-year increase in revenue from workers’ accommodation to S$46.2 million.

For the student accommodation division, revenue climbed 25% year on year to S$14.7 million.

The group has commenced partial redevelopment of two purpose-built dormitories in Singapore – Westlite Toh Guan and Westlite Mandai, as part of its transition plan.

Westlite Toh Guan’s redevelopment should be completed in 2026 and add around 1,764 beds while Westlite Mandai will complete in the same year and add 3,696 beds.

Over in Malaysia, Centurion commenced an asset enhancement initiative which will add around 920 beds on completion in 4Q 2024.

Just last month, Centurion entered into a lease agreement for 15 floors of a building in Hong Kong to renovate it into an accommodation with 89 beds to house students.

The master lease for this building is for five years with an option to renew for two years.

Grand Banks Yachts (SGX: G50)

Grand Banks Yachts, or GBY, is a manufacturer of luxury recreational motor yachts under the Grand Banks, Eastbay, and Palm Beach brands.

The group has a manufacturing yard at Pasir Gudang, Johor, and service yards in Florida, USA, and New South Wales (Australia).

GBY’s share price climbed 46.7% YTD and recently hit its 52-week high of S$0.44.

The yacht manufacturer reported a robust set of earnings for the first nine months of fiscal 2024 (9M FY2024) ending 31 March 2024.

Revenue jumped by 20% year on year to S$94.2 million, boosted by accelerated boat-building activity.

Gross margin expanded to 38% from 28.3% a year ago, allowing gross profit to surge by 62.3% year on year to S$35.8 million.

Net profit for 9M FY2024 hit S$10.9 million, the highest in more than a decade, and was nearly 93% higher than the S$5.7 million recorded in the previous year.

The group’s construction for the expansion of its manufacturing yard in Johor is on track and will add 25% more usable floor space.

The expansion will also enable the construction of larger, sleeker, and more energy-efficient yacht models.

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Disclosure: Royston Yang does not own shares in any of the companies mentioned.

The post Share Prices of These 3 Singapore Stocks Shot Up 36% or More Year-to-Date: Can Their Run Continue? appeared first on The Smart Investor.