Singapore corporates post strong earnings report card

Singapore

SINGAPORE-LISTED firms that posted quarterly results still managed to turn in a creditable earnings report card, despite sluggish global and domestic economies and a pall of uncertainty.

Of the 38 firms that have released their full-year financials as at Feb 9, 36 turned profits, while the other two were in the red. Of the 36, 20 posted higher profits in 2016 compared to a year ago. This relatively strong showing came even as the firms' combined full-year profits fell 14.9 per cent to S$4.1 billion over the previous year.

The real estate investment trust (Reit) sector was the best performer with mostly good numbers to show.

Heavyweights CapitaLand Mall Trust and CapitaLand Commercial Trust both posted higher full-year net profits and revenue, boosted by business …