You are here

Stocks to watch: Global Logistic Properties, First Sponsor, Singpost, Sats

globllogiste0502.jpg
Third quarter earnings for Global Logistic Properties (GLP) fell 36.2 per cent, as revenue stayed largely flat and expenses rose.

THE following companies made announcements on Wednesday evening and Thursday early morning that could affect trading when the market opens on Thursday:


Third quarter earnings for Global Logistic Properties (GLP) fell 36.2 per cent, as revenue stayed largely flat and expenses rose. The logistics group recorded a net profit of US$112.4 million for the three months ended Dec 31, down from US$176.2 million a year ago.

Over the same period, its revenue edged up 0.7 per cent to US$179 million, on the inclusion of one month's revenue of its Brazil portfolio that was acquired in June 2014, and the completion of its development projects in China.

But this was offset by deferred rental revenue in Airport City Development, the sale of 11 properties in Japan to GLP J-Reit, and a weaker Japanese yen against the US dollar.

sentifi.com

Market voices on:

The counter last closed at S$2.51 on Wednesday.


First Sponsor Limited's net profit in the fourth quarter more than doubled to S$19.3 million, as revenue rose nine-fold, boosted by its sale of properties.

The China-focused property developer posted a revenue of S$84.5 million for the quarter ended Dec 31, up from S$8.4 million a year ago. This was thanks to S$77.3 million from the sale of properties, namely the Millennium Waterfront project, compared with S$5.4 million in Q4 2013, and a S$3.6 million increase in property financing revenue.


Singpost recorded net profit of S$42.23 million for the three months ended Dec 31, 7.3 per cent higher than the corresponding period in the previous year.

Over the same period, its revenue increased by 7.6 per cent to S$239.62 million, as improved contributions from its e-commerce and logistics businesses offset the decline in mail revenue.


SATS on Wednesday evening announced a 25.2 per cent year-on-year jump in third quarter net profit to S$53.7 million, boosted in part by lower costs.

Revenue dipped 3.2 per cent to S$450.7 million as higher revenue from gateway services was offset by lower revenue from food solutions. Earnings per share for the quarter came to 4.8 Singapore cents, up from 3.8 cents.

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom