Singapore-listed firms see sharp rise in Q2 profits
Singapore-listed firms posted combined profits of 6.91 billion SGD in
the second quarter of this year, a 13.6 percent increase over the same
period last year.
Singapore-listed firms posted combined profits of 6.91 billion SGD in
the second quarter of this year, a 13.6 percent increase over the same
period last year.
Of the 161 firms that have released earnings, 129 turned a profit. All three local banks saw growth in profit, with the DBS Group gaining net profit of 969 million SGD (about 775 million USD), OCBC Bank, 921 million SGD (737 million USD), and UOB, 808 million SGD (646 million USD). OCBC Bank recorded highest yearly growth, 54.3 percent.
In the property sector, CapitaLand and Keppel Land recorded double-digit gains in second-quarter earnings, gaining 438.7 million SGD (351 million USD) and 107 million SGD (86 million USD), year-on-year increases of 14.5 percent and 12.2 percent, respectively.
On the offshore front, Keppel Corporation's quarterly net profit was up 17.1 percent to 406 million SGD (325 million USD) and Sembcorp Marine, 5.4 percent to 131.6 million SGD (105 million USD).
In the telco industry, StarHub gained 94.3 million SGD (75.4 million USD) in net profit while M1 earned 43.9 million SGD (35 million USD), up 6.3 percent and 12 percent year-on-year, respectively.
Among the 32 firms operating in the red in Q2, shipping giant NOL had a tough time with a net loss of 23.9 million SGD; rubber producer GMG Global, 16.2 million SGD; and engineering firm Yongnam Holdings 5.3 million SGD.
On a half-year basis, the Singapore-listed firms saw an aggregate net profit of 17.63 billion SGD, a 14.3 percent increase over the same period last year./.
Of the 161 firms that have released earnings, 129 turned a profit. All three local banks saw growth in profit, with the DBS Group gaining net profit of 969 million SGD (about 775 million USD), OCBC Bank, 921 million SGD (737 million USD), and UOB, 808 million SGD (646 million USD). OCBC Bank recorded highest yearly growth, 54.3 percent.
In the property sector, CapitaLand and Keppel Land recorded double-digit gains in second-quarter earnings, gaining 438.7 million SGD (351 million USD) and 107 million SGD (86 million USD), year-on-year increases of 14.5 percent and 12.2 percent, respectively.
On the offshore front, Keppel Corporation's quarterly net profit was up 17.1 percent to 406 million SGD (325 million USD) and Sembcorp Marine, 5.4 percent to 131.6 million SGD (105 million USD).
In the telco industry, StarHub gained 94.3 million SGD (75.4 million USD) in net profit while M1 earned 43.9 million SGD (35 million USD), up 6.3 percent and 12 percent year-on-year, respectively.
Among the 32 firms operating in the red in Q2, shipping giant NOL had a tough time with a net loss of 23.9 million SGD; rubber producer GMG Global, 16.2 million SGD; and engineering firm Yongnam Holdings 5.3 million SGD.
On a half-year basis, the Singapore-listed firms saw an aggregate net profit of 17.63 billion SGD, a 14.3 percent increase over the same period last year./.
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