Mixed bag of results for fiscal year ended June

CORPORATE Singapore was not quite a picture of plump profits, rosy topline and sunny outlook for firms with a June year-end. In fact, it was anything but - no thanks to rising cost pressures, market volatility and a global economic cycle that had yet to turn around as promisingly as businesses had previously hoped.

As at Aug 29, 93 firms listed on the Singapore Exchange had released their full-year earnings. Collectively, these firms earned some S$2.6 billion for the fiscal year 2014. With only one firm not having comparative results for a year ago, the tally of S$2.5 billion in total net profits raked up by the 92 firms marks a 6 per cent increase from the previous year, according to preliminary data compiled by The Business Times.

More than two-thirds or 68 firms turned in profits while 25 suffered losses. Nine companies rejoiced for turning the corner and returning to the black but more faced the dreaded reversal - 11 firms which made profits in FY2013 swung to the red in FY2014.