2Q results

Singapore Air flying low on mixed performance, but analysts still positive

SINGAPORE (Nov 11): Although Singapore Airlines (SIA) reported mixed performances across the group in 2Q20, analysts are still remaining positive on the stock.

In its latest 2Q20 results, SIA’s earnings came in at $94.5 million, 70% higher y-o-y, mainly due to higher contributions from associates and joint ventures of $78 million only to be offset by higher finance charges of $28 million.

Revenue increased by 5.3% y-o-y to $768.5 million, mainly driven by growth in passenger-flown revenue, although the topline was dragged down by cargo-flown revenue.

1H for Bumitama Agri was a huge miss; will 2H be better?

SINGAPORE (Aug 27): Shares in Bumitama Agri are currently trading at an all-time low at 58 cents. Year to date, the stock has fallen 14.9%.

In addition, the group’s latest 2Q19 results were rather lacklustre due to weak palm oil prices and lower sales volume. Low prices of vegetable oils and high stock level of palm oil had kept palm oil prices low.

Long-term growth story of China Aviation Oil intact; weaker 2Q results only a blip

SINGAPORE (Aug 15): China Aviation Oil (CAO) reported a 2.9% fall in 2Q19 earnings to US$28.4 million from US$29.3 million in 2Q18.

Revenue increased 2.9% to US$6.0 billion from US$5.8 billion a year ago as total supply and trading volume increased 6.62% to 10.63 million tonnes.

Volume for jet fuel rose 19.41% to 4.06 million tonnes. Volume for gas oil rose 44.35% to 1.66 million tonnes for 2Q19. However, volume of other oil products fell 9.41% to 4.91 million tonnes.

Sinarmas Land records almost sevenfold increase in 1H earnings to $331 mil on higher revenue, exceptional gains

SINGAPORE (Aug 14): Sinarmas Land reported 1H19 earnings increased nearly sevenfold to $330.8 million from a year ago on exceptional gain.

In 1H19, revenue increased 46.0% to $560.9 million from $384.3 million a year ago, mainly due to higher sales of commercial and industrial land parcels in Indonesia and higher sales of residential units in BSD City, Indonesia.

Cost of sales increased 55.2% to $177.2 million, resulting in gross profit for 1H19 coming in 42.1% higher at $383.8 million a year ago.

United Engineers posts 25% lower 2Q earnings of $8.3 mil on lower revenue

SINGAPORE (Aug 14): United Engineers reported 2Q19 earnings of $8.3 million, a 25% decline from $11.0 million in the same quarter last year, due primarily to a decline in revenue.

Earnings per share for the quarter came in at 1.3 cents, down from 1.7 cents the previous year.

Revenue for the quarter fell 8% to $88.1 million from $96.2 million in the preceding year, on the back of lower revenue contributions from manufacturing, engineering and property development segments – which displayed a fall of 20%, 12% and 32% respectively.

Straits Trading posts 25.5% drop in 2Q earnings to $25.3 mil

SINGAPORE (Aug 14): The Straits Trading Company recorded 2Q19 earnings of $25.3 million or 6.2 cents per share, 25.5% lower than $33.9 million in 2Q18.

This brings 1H19 earnings to $42.5 million, 2.4% lower than $43.6 million in 1H18.

Revenue for 2Q19 was 9.4% lower at $105.4 million from $116.3 million a year ago, mainly due to a 13.3% drop in sales from the group’s tin mining and smelting segment to $95.5 million, as a result of lower sales quantity of refined tin.

Best World says 2Q earnings nearly trebled to $27 mil on higher sales

SINGAPORE (Aug 13): Best World International, the direct selling firm whose shares are currently suspended from trading, reported earnings of $26.7 million for 2Q19, some 193% higher than $9.1 million in 2Q18.

Centurion posts 4% increase in 2Q earnings to $10.2 mil; declares 1 cent interim dividend

SINGAPORE (Aug 13): Centurion Corporation reported 2Q19 earnings improved 4% to $10.2 million, compared to $9.8 million in 2Q18.

However, for the half year ended June, 1H19 earnings was 4% lower at $18.1 million from $18.9 million in 1H19.

Delfi posts 19.4% increase in 2Q earnings to $8.5 mil on higher revenue

SINGAPORE (Aug 13): Chocolate confectionary company Delfi announced that its 2Q19 earnings have increased by 19.4% to US$6.1 million ($8.5 million), compared to US$5.1 million in 2Q18.

This brings earnings for the 1H19 ended June to US$15.4 million, 20.7% higher than US$12.7 million in 1H18.

2Q19 revenue increased by 3.0% to US$112.3 million from US$109.1 million a year ago, mainly due to a 13.4% y-o-y increase in sales from the group’s agency brands to US$41.6 million.

UOL posts 48% increase in 2Q earnings to $195 mil on higher fair value gains

SINGAPORE (Aug 8): UOL Group recorded a 48% jump in 2Q19 earnings to $195.4 million, compared to $131.9 million in 2Q18.

This brings 1H19 earnings to $267.7 million, 29% higher than $207.2 million in 1H18.

Revenue for 2Q19 was 20% lower at $512.3 million from $637.9 million a year ago, mainly due to lower progressive recognition of revenue from development projects, Principal Garden, The Clement Canopy and Botanique at Bartley which obtained TOP in Dec 2018, March and April respectively.

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