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Stocks In Focus SG (Far East Hospitality, SIA, ST Engg) – 07/11/14
CWT’s revenue accelerated 69.7 percent to $3.8 billion for the third quarter ended 30 September, mainly driven by stronger results in its commodity marketing and financial services business segments. Consequently, earnings gained 70.2 percent to $32.5 million. For the nine months, revenue soared in excess of 100 percent to $12 billion and earnings surged 52.2 percent to $97.7 million.
Far East Hospitality Trust’s net property income (NPI) edged down 1.2 percent to $28.2 million for the third quarter ended 30 September, led by a decline in its hotel portfolio performance. Consequently, distribution income declined 3.1 percent to $23.5 million. For the nine months, NPI rose 1.2 percent to $82.4 million and distributable income sank 1.3 percent to $68.6 million. The trust has declared a distribution per unit of $0.0132 for the quarter.
Sembcorp Industries’ revenue rose 3.2 percent to $3.1 billion for the third quarter ended 30 September, driven by growth across all business segments except urban development. However, a 60.8 percent drop in other income caused net profit to fall 22.7 percent to $196.6 million. For the nine months, revenue was up 5.2 percent to $8.2 billion while earnings were down 6.1 percent to $560.5 million.
Singapore Airlines’ revenue remained flat at $3.9 billion for the second quarter ended 30 September, underpinned by slightly better passenger revenue which was offset by a yield decline. Coupled with losses of $104 million generated from its associated companies, net profit sank 43.4 percent to $90.9 million. For the six months, revenue slipped 2 percent to $7.6 billion while earnings shrank 55.5 percent to $125.7 million.
Singapore Post posted an 8.1 percent gain in revenue to $220.3 million for the second quarter ended 30 September, in light of growth in its e-commerce related business. Subsequently, net profit advanced 5.5 percent to $37.6 million. For the six months, revenue posted a 6.4 percent growth to $431.3 million and net profit grew 5.3 percent to $76.8 million. The company has declared an interim dividend per share of $0.0125.
Singapore Technologies Engineering’s revenue stood still at $1.6 billion for the third quarter ended 30 September, as weaker performance from its aerospace sector has offset higher contribution from the marine sector. Subsequently, earnings declined 7.7 percent to $121.3 million. For the nine months, revenue was flat at $4.7 billion and earnings were down 5.2 percent to $391.7 million.
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