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Stocks to watch: GLP, CRCT, Religare Health Trust, Frasers Centrepoint, F&N

Thursday, February 4, 2016 - 08:55


GLOBAL Logistic Properties: GLP on Thursday reported a 63.8 per cent increase in net profit to US$184.2 million, while revenue rose 11.1 per cent to US$198.9 million.

The logistics facilities owner said its results were underpinned by higher earnings in China, development gains in Japan and GLP's entry into the US market.

CapitaLand Retail China Trust: CRCT on Thursday posted a distribution per unit of 2.59 Singapore cents for its fourth quarter ended Dec 31, 2015, 4.4 per cent higher what it paid out a year ago.

Gross revenue rose 6.7 per cent to S$56.2 million, while net property income rose 5.2 per cent to S$35.3 million, thanks to rental growth mainly from CapitaMall Qibao and CapitaMall Saihan.

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Religare Health Trust: RHT on Wednesday posted a 3 per cent drop in net profit for the three months ended Dec 31, 2015, to S$11.2 million, but total distributable income rose 5.7 per cent to S$15.3 million.

This translates to a distribution per unit (DPU) of 1.91 Singapore cents, up 4.9 per cent year-on-year.

RHT Trustee Manager on Wednesday said the higher distributable income in the third quarter of FY2016 was boosted by lower hedging costs and improved forward contract rates.

Frasers Centrepoint Ltd: FCL on Wednesday posted a 47.2 per cent drop in net profit for the first quarter ended Dec 31, 2015, to S$98.65 million. Revenue slipped 37.3 per cent to S$671.63 million. Profit before interest, taxation, fair-value change and exceptional items (PBIT) fell 24.4 per cent to S$210.99 million.

Fraser and Neave: F&N's net profit fell 26.9 per cent in its fiscal first quarter following the sale of its Myanmar brewery, but a hearty dairy business helped continuing operations to post a 33.9 per cent jump in earnings, the drinks company said on Wednesday.

Net earnings for the three months ended December 2015 fell to S$25.7 million, or 1.8 Singapore cents per share. F&N shares closed at S$1.96 on Wednesday before the results were announced.

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