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Stocks to watch: OCBC, UOB, GLP, NOL, SMRT
THE following counters have made announcements that may affect their trading when the market opens on Friday:
Oversea-Chinese Banking Corporation (OCBC) reported a net profit of S$1.05 billion for the second quarter of 2015, which was 14 per cent higher than S$921 million a year ago. The robust second quarter performance was driven by new highs in both net interest income and non-interest income.
United Overseas Bank (UOB) reported on Friday that its net profit for the second quarter of 2015 fell 5.7 per cent to S$762 million, from S$808 million a year ago. The weaker performance was largely due to lower treasury and investment income.
Global Logistic Properties' (GLP) earnings rose 49.4 per cent for the first quarter as its share of results in joint ventures and higher asset values bolstered the bottomline. The group recorded net profit of US$268.1 million for the three months ended June 30, up from US$179.4 million a year ago.
Container shipping liner Neptune Orient Lines (NOL) managed to make its way back into the black in the second quarter, though most of its profit came from the sale of its logistics arm. Net profit came in at US$889.5 million for the three months ended June 26, 2015, against a net loss of US$53.74 million in the previous year. Revenue for the quarter sank 24 per cent to US$1.55 billion year on year.
SMRT Corporation said on Thursday evening that its first quarter net profit slipped 10 per cent to S$20.13 million, hit by losses from its rail operations. Revenue rose 7.8 per cent to S$320.3 million, from S$297.13 million in the same period last year.