SGX listcos’ Q3 profits fall 6.8%; tech, Reits expected to lead recovery in 2024

THE earnings of companies listed on the Singapore Exchange (SGX) fell for the third quarter of 2023 ended September amid high interest rates, persistent inflation and an economic slowdown in China.

A compilation of results by The Business Times as at Nov 30 showed that the aggregate profits of the 111 companies that had released their quarterly financial results or updates for the quarter stood at S$8.7 billion, down 6.8 per cent from the corresponding period last year.

While analysts expected earnings for Q4 to remain weak for most sectors, they were optimistic that some sectors such as technology and real estate investment trusts (Reits) would see some recovery in 2024.