SGX listcos post 16.7% higher quarterly profits in April-June quarter

COMPANIES listed on the Singapore Exchange (SGX) that have released quarterly financial results or updates for the quarter to June reported aggregate profits of S$7.1 billion, a 16.7 per cent increase year on year.

A compilation of the results by The Business Times (BT) as at end-August showed 57 of the 82 issuers were profitable for the quarter to June, while 25 were in the red. Of the 57 profitable companies, 26 posted a smaller bottom line. Another 23 managed to improve their earnings, and eight swung back into profitability from a loss in the year-ago period.

Nine of the companies in the red managed to cut their losses, but 12 saw their losses balloon, and four became loss-making during the quarter.