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

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Tay Peck Gek

Tay Peck Gek

Published Mon, Sep 11, 2023 · 09:16 PM
    • The lacklustre results of property developers and brokers have been attributed to a lack of divestment gains, slower monetisation activities and reduced market transaction volumes.
    • The lacklustre results of property developers and brokers have been attributed to a lack of divestment gains, slower monetisation activities and reduced market transaction volumes. PHOTO: BT FILE

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    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.

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