SINGAPORE (Mar 5): The earnings season is over for now and more companies have beat their FY18 results expectations than missed, with large-caps mostly boosted by one-off gains, according to CGS-CIMB Research in a Monday report.
Analyst Lim Siew Khee says, “We think YTD FSSTI’s outperformance (+7%) was somewhat helped by fewer poor results in the last two months where the beats exceeded misses – a first in seven quarters. However, the quality was less sterling.”
Capital goods mainly attributed its beat to one-off gains, while REITs saw divestment gain distributions.
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