Stocks to watch: Frasers Centrepoint, Hatten, The Trendlines
THE following companies are among those that reported material information after the market closed on Tuesday:
Frasers Centrepoint Limited: It marked a 42.2 per cent drop in net profit for the fiscal second quarter ended March 31 to S$71.2 million, on the back of lower revenue and an absence of a divestment gain compared to a year ago.
For the first half ended March 31, however, net profit was 16.6 per cent higher than a year ago at S$258.8 million and revenue grew 6.9 per cent to S$1.68 billion, underpinned by a higher level of settlement of residential projects in Australia compared to last year, as well as earnings recognition from the completion of Phase 3C1 of Baitang One Suzhou, China.
Hatten Land: The company reported a net loss of RM74.25 million (S$24 million) for the third quarter ended March 31, from a net profit of RM5.65 million in the year-ago period, dragged down by one-off expenses relating to its backdoor listing.
But revenue during the quarter surged 122.6 per cent to RM164.9 million, mainly due to higher progressive sales recognised from the Hatten City Phase 2 and Harbour City projects.
The Trendlines Group: It sank deeper into the red in the first quarter ended March 31 with a S$1.7 million net loss, compared to a net loss of S$770,000 a year ago.
The fair value of its portfolio held steady at US$83.8 million at end-March, compared to US$83.7 million at end-2016 as the increase of its investments was offset by a write-off of three portfolio companies mainly due to business failure or lack of funding, the group said on Tuesday night.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
UBS lifts Chinese stocks to overweight in rare upgrade call
Asia: Most markets rise with earnings, US data in view
Singapore banks lead market surge again on easing Middle East tensions; STI up 1%
Stocks to watch: Clar, Keppel Reit, ESR-Logos Reit, Nanofilm, LHN
Europe: Stocks rebound after last week’s selloff, eyes on earnings and data
US: Stocks rebound to open big earnings week