Here are some stocks to watch this Wednesday morning.
Neptune Orient Lines narrowed its 4Q loss to US$75.45 million ($106 million) as the shipping company cut costs amid ongoing weakness in the industry. For the full year, NOL swung to a net profit of US$707.2 million, or 27.27 US cents per share, from a year-ago loss of US$259.8 million. Revenue fell 28% during the quarter to US$1.3 billion amid planned capacity cuts, void sailings, weak container trade demand and a challenging freight rate environment. NOL last closed $1.25.
Supermarket group Sheng Siong reported a near 24% rise in profit to $14.61 million in 4Q from a year ago, lifted by higher gross margins. Revenue edged up by close to 5% to $187.1 million as new stores contributed to the topline. This was offset by a slight contraction from same store sales. For the full year, net profit rose 19.3% to $56.78 million due to higher revenue, improved gross margin, higher other income and net tax refunds. Meanwhile, revenue increased 5.3% to S$764.43 million. Sheng Siong closed at 86 cents.
4Q earnings for Super Group tumbled 39%, mainly due to higher tax expenses and the absence of other income. Revenue slipped 8%to $141.1 million on lower food ingredient sales to Indonesia and China, offset partially by the better performance in the Philippines and Taiwan. For the full year, Super Group's net profit fell 31% to $47.3 million, on the back of a 6% dip in revenue to $509.2 million. The counter closed at 73.5 cents.
Property group OUE Limited has inked a deal to raise its stake in OUE Commercial REIT to 64.98%, it said in a Singapore Exchange filing on Tuesday. Its wholly owned unit, Clifford Development, has agreed to pay $165.97 million in cash to buy about 203.15 million units in OUE C-REIT from Gordon Tang, OUE said. The purchase price works out to about 81.7 cents per unit which was above the closing price of 64.5 cents for OUE C-REIT units on Tuesday.
Roadbuilder OKP Holdings' net profit jumped 127.8% to $1.9 million in the 4Q amid a tightening of costs. For the full year ended December, OKP's net profit rose 175.7% to S$7 million. Revenue slipped 4.5% during the quarter to $24.5 million on a weaker maintenance business. But cost of works fell by 13.9% to $20.7 million, which helped gross profit to grow by 129.6% to $3.8 million.
Lippo Malls Indonesia Retail Trust is raising its 4Q distribution by 14.1% to 0.81 cent per unit as net property income increased by 22.3% to $40.2 million. For the full year ended 2015, the Indonesian mall-focused real estate investment trust's net property income rose 25.8% to S$158.6 million. Gross rent improved by 20.8% to $36.4 million during the quarter.
Markets
Wall Street stocks slid on Tuesday, hurt by pressure from a renewed drop in oil prices, undercutting momentum that had helped the market rebound from a sluggish start to the year. The Dow Jones industrial average fell 188.88 points, or 1.14%, to 16,431.78, the S&P 500 lost 24.23 points, or 1.25%, to 1,921.27 and the Nasdaq Composite dropped 67.02 points, or 1.47%, to 4,503.58.
Earlier, the Straits Times Index ended the day 0.43% higher at 2,672.07. Excluding warrants, gainers outnumbered decliners 212 to 165. A total of 1.37 billion shares worth about $1.29 billion changed hands, giving an average of 94 cents per share for the entire market.
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
Neptune Orient Lines narrowed its 4Q loss to US$75.45 million ($106 million) as the shipping company cut costs amid ongoing weakness in the industry. For the full year, NOL swung to a net profit of US$707.2 million, or 27.27 US cents per share, from a year-ago loss of US$259.8 million. Revenue fell 28% during the quarter to US$1.3 billion amid planned capacity cuts, void sailings, weak container trade demand and a challenging freight rate environment. NOL last closed $1.25.
Supermarket group Sheng Siong reported a near 24% rise in profit to $14.61 million in 4Q from a year ago, lifted by higher gross margins. Revenue edged up by close to 5% to $187.1 million as new stores contributed to the topline. This was offset by a slight contraction from same store sales. For the full year, net profit rose 19.3% to $56.78 million due to higher revenue, improved gross margin, higher other income and net tax refunds. Meanwhile, revenue increased 5.3% to S$764.43 million. Sheng Siong closed at 86 cents.
4Q earnings for Super Group tumbled 39%, mainly due to higher tax expenses and the absence of other income. Revenue slipped 8%to $141.1 million on lower food ingredient sales to Indonesia and China, offset partially by the better performance in the Philippines and Taiwan. For the full year, Super Group's net profit fell 31% to $47.3 million, on the back of a 6% dip in revenue to $509.2 million. The counter closed at 73.5 cents.
Property group OUE Limited has inked a deal to raise its stake in OUE Commercial REIT to 64.98%, it said in a Singapore Exchange filing on Tuesday. Its wholly owned unit, Clifford Development, has agreed to pay $165.97 million in cash to buy about 203.15 million units in OUE C-REIT from Gordon Tang, OUE said. The purchase price works out to about 81.7 cents per unit which was above the closing price of 64.5 cents for OUE C-REIT units on Tuesday.
Roadbuilder OKP Holdings' net profit jumped 127.8% to $1.9 million in the 4Q amid a tightening of costs. For the full year ended December, OKP's net profit rose 175.7% to S$7 million. Revenue slipped 4.5% during the quarter to $24.5 million on a weaker maintenance business. But cost of works fell by 13.9% to $20.7 million, which helped gross profit to grow by 129.6% to $3.8 million.
Lippo Malls Indonesia Retail Trust is raising its 4Q distribution by 14.1% to 0.81 cent per unit as net property income increased by 22.3% to $40.2 million. For the full year ended 2015, the Indonesian mall-focused real estate investment trust's net property income rose 25.8% to S$158.6 million. Gross rent improved by 20.8% to $36.4 million during the quarter.
Markets
Wall Street stocks slid on Tuesday, hurt by pressure from a renewed drop in oil prices, undercutting momentum that had helped the market rebound from a sluggish start to the year. The Dow Jones industrial average fell 188.88 points, or 1.14%, to 16,431.78, the S&P 500 lost 24.23 points, or 1.25%, to 1,921.27 and the Nasdaq Composite dropped 67.02 points, or 1.47%, to 4,503.58.
Earlier, the Straits Times Index ended the day 0.43% higher at 2,672.07. Excluding warrants, gainers outnumbered decliners 212 to 165. A total of 1.37 billion shares worth about $1.29 billion changed hands, giving an average of 94 cents per share for the entire market.
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
0 comments:
Post a Comment