Singapore listcos ride recovery wave in Q1
However, momentum is patchy with some sectors including travel and tourism still facing hard times
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CORPORATE earnings for the quarter to March reinforced the recovery narrative for a majority of Singapore-listed companies from pandemic-led troubled times with nearly 70 per cent in the black. Of this, more than half earned better than they did over the same period last year.
Data compiled by The Business Times on a total of 128 listcos that issued their report cards - as at a week ago - for the three-month period showed that 87 companies were in the black and the rest, in the red. More notably, their combined earnings worked up to almost S$7.99 billion, more than doubling their collective net profit of S$3.72 billion over the corresponding quarter last year.
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