Here are some stocks to watch this Friday morning.
Noble Group posted the first annual loss in almost two decades as Asia’s largest commodity trader wrote down the value of assets amid tumbling raw material prices including coal and sold an agricultural-unit stake for less than the asset was valued on its books. The net loss was US$1.7 billion ($2.4 billion) last year compared with profit of US$132 million in 2014, Hong Kong-based Noble Group said on Thursday. Revenue dropped 22% to US$66.7 billion last year, falling short of the median estimate of US$74.2 billion of nine analysts surveyed by Bloomberg. Noble shares closed at 33.5 cents on Thursday.
Defence contractor ST Engineering posted a 1% fall in full-year earnings to $529 million, or 17.05 cents, from $532 million a year ago. Earnings before interest and tax (EBIT) fell 8% to $510.3 million while revenue fell 3% to $6.3 billion from the previous year. ST Engineering says it has an order book of $11.7 billion at end December 2015, of which about $3.8 billion is expected to be delivered in 2016. The counter closed at $2.81.
Indofood Agri's earnings dipped 22% to $32 million in the fourth quarter ended Dec 31, 2015, from $41 million a year ago. This was despite the plantation group reported higher sales volume of palm products and a reversal of foreign exchange losses. Revenue fell 9.8% to $387 million from $429 million previously, due to lower revenue contribution from its edible oils & fats and plantation divisions. Shares of IndoAgri ended at 43.5 cents.
Venture Corp, the global provider of electronics manufacturing services, posted full-year earnings of $153.9 million from $75.9 million a year ago. Revenue for the 12 months to Dec came in 7.7% higher at $2.66 billion. Venture recorded profit before tax (PBT) of $181.7 million and a corresponding PBT margin of 6.8%. But based on tax incentives granted to the subsidiaries of the group and changes in sales mix of products with tax incentives, the group also reported higher income tax expense of $27.6 million. Venture closed at $8.04 on Thursday.
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Noble Group posted the first annual loss in almost two decades as Asia’s largest commodity trader wrote down the value of assets amid tumbling raw material prices including coal and sold an agricultural-unit stake for less than the asset was valued on its books. The net loss was US$1.7 billion ($2.4 billion) last year compared with profit of US$132 million in 2014, Hong Kong-based Noble Group said on Thursday. Revenue dropped 22% to US$66.7 billion last year, falling short of the median estimate of US$74.2 billion of nine analysts surveyed by Bloomberg. Noble shares closed at 33.5 cents on Thursday.
Defence contractor ST Engineering posted a 1% fall in full-year earnings to $529 million, or 17.05 cents, from $532 million a year ago. Earnings before interest and tax (EBIT) fell 8% to $510.3 million while revenue fell 3% to $6.3 billion from the previous year. ST Engineering says it has an order book of $11.7 billion at end December 2015, of which about $3.8 billion is expected to be delivered in 2016. The counter closed at $2.81.
Indofood Agri's earnings dipped 22% to $32 million in the fourth quarter ended Dec 31, 2015, from $41 million a year ago. This was despite the plantation group reported higher sales volume of palm products and a reversal of foreign exchange losses. Revenue fell 9.8% to $387 million from $429 million previously, due to lower revenue contribution from its edible oils & fats and plantation divisions. Shares of IndoAgri ended at 43.5 cents.
Venture Corp, the global provider of electronics manufacturing services, posted full-year earnings of $153.9 million from $75.9 million a year ago. Revenue for the 12 months to Dec came in 7.7% higher at $2.66 billion. Venture recorded profit before tax (PBT) of $181.7 million and a corresponding PBT margin of 6.8%. But based on tax incentives granted to the subsidiaries of the group and changes in sales mix of products with tax incentives, the group also reported higher income tax expense of $27.6 million. Venture closed at $8.04 on Thursday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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