SG Morning Highlights | ComfortDelGro's H1 Net Profit Slips 31.9% to S$78.5 Million
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Tuesday; STI up 0.1%
●ComfortDelGro's H1 net profit slips 31.9% to S$78.5 million
●Stocks to watch: ComfortDelGro, Yanlord Land, Straits Trading, UMS
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Tuesday. The $FTSE Singapore Straits Time Index(.STI.SG$ gained 0.1 per cent to 3,250.83 as at 9.05 am.
Advancers / Decliners is 64 to 67, with 67.08 million securities worth S$81.54 million changing hands.
Stocks to Watch
$ComfortDelGro(C52.SG$: ComfortDelGro Corporation (CDG) on Monday (Aug 14) reported a 31.9 per cent fall year on year in net profit to S$78.5 million for the first half of the year to June 2023 from S$115.3 million, mainly due to higher operating costs and the absence of a one-off disposal gain.
Nonetheless, the transport behemoth has raised its dividend payout ratio to a minimum of 70 per cent from 50 per cent as it wants to reward shareholders "more appropriately with what is going to be the traditional strong cash flow from current businesses".
$Yanlord Land(Z25.SG$: Yanlord Land Group posted a net profit of approximately one billion yuan (S$186.9 million) for the half year ended June 2023, down 20 per cent from the 1.4 billion yuan a year ago.
It attributed the decline to a "decrease in other operating income and other gains and share of profit of joint ventures as well as the increase in selling expenses and finance cost". This was partly offset by an increase in gross profit and share of result of associates as well as decrease in administrative expenses and income tax, it added.
The property group also recorded a revenue of 14.8 billion yuan, up 31 per cent from 11.3 billion yuan in H1 2022.
$Straits Trading(S20.SG$: The Straits Trading Company has reported 1HFY2023 earnings of $14.9 million, versus $673 million recorded in the year.
The big drop can be attributed to the one-off recognition of $658.6 million in 1HFY2022 following the sale of its stake in ARA Asset Management.
If this gain is excluded, Straits Trading would have reported an ebitda that is 11.7% higher y-o-y, and profit after tax that's 19.2% lower y-o-y.
$UMS(7137$: UMS Holdings Limited (UMS) has reported lower earnings of $29.0 million for the 1HFY2023 ended June, a 27% decrease from the same period last year.
This brings its earnings per share (EPS) to 4.32 cents in 1HFY2023 compared to 5.9 cents in 1HFY2022.
The group also recorded a lower revenue of $155.1 million, a 29% decrease y-o-y, as sales softened 9% compared to the same period last year.
Latest Share Buy Back Transactions
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Guanheng Sim : Speak
buy-buy-buy : UMS Malaysia?