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Stocks to watch: M1, Keppel DC Reit, Keppel Infrastructure Trust, CRCT

Thursday, April 14, 2016 - 08:20

THE following companies announced results on Wednesday that may influence trading on Thursday.

M1: The telco's net profit dropped 6.9 per cent from the previous year to S$42.5 million for the three months ended March 31, 2016, largely due to higher upfront customer acquisition cost. Revenue fell 12.6 per cent to S$257.6 million year-on-year.

Keppel DC Reit: The Reit, which owns data centres, posted a 3.7 per cent year-on-year rise in distribution per unit (DPU) to 1.67 Singapore cents for the first quarter ended March 31, buoyed by net tax and other adjustments. This surpassed its forecast by 1.2 per cent and translated into an annualised distribution yield of 6.34 per cent based on the market closing price per unit as at March 31.

Keppel Infrastructure Trust: The trust announced a distribution per unit (DPU) of 0.93 Singapore cent for its first quarter ended March 31, 2016, up from 0.78 cent a year ago. This was despite net profit in Q1 plunging to just S$2,000 from S$2.66 million, due to the Basslink electricity interconnector, which has not been receiving its facility fees since its cable fault last December. On Dec 20, 2015, Basslink was taken out of service due to a cable fault incident. The cause is still being investigated.

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CapitaLand Retail China Trust (CRCT): The trust announced a 2.7 per cent increase in distribution per unit (DPU) to 2.71 Singapore cents for the quarter ended March 31, 2016. But a weaker yuan eroded its returns. Gross revenue rose by 1.9 per cent to S$55.6 million, but if denominated in yuan, it would have been a larger 2.5 per cent increase to 256.5 million yuan.

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