Stocks to watch: UOB, Wilmar, iFast, Vicom, United Hampshire US Reit

THE following companies saw new developments that may affect trading of their securities on Thursday (Feb 22): UOB : The lender’s net profit for the fourth quarter rose 21.8 per cent on higher net fee income and other non-interest income, based on its results released on Thursday. Net profit for the three months ended Dec 31, 2023, stood at S$1.4 billion, compared with S$1.2 billion from the year-ago period. This included one-off expenses from the lender’s Citigroup integration costs. The counter closed 0.9 per cent or S$0.27 lower at S$29.24 on Wednesday.

Wilmar International : The agribusiness group’s net profit for the half year ended December 2023 fell 21.3 per cent to US$973.9 million, from US$1.2 billion the year earlier. This was after lower contributions from its feed and industrial products division as well as non-operating losses, the group said on Wednesday. Lower prices for most commodities led to revenue falling 7.1 per cent to US$34.6 billion for the half year, from US$37.3 billion in the same period the previous year. Its counter closed up 0.6 per cent or S$0.02 to S$3.26, before the results.

iFast : The financial services company’s net profit for the fourth quarter surged 917.1 per cent to S$13.2 million, as initial contributions from its ePension division streamed in. Revenue for the quarter rose 69.3 per cent on year to S$82.2 million amid an increase in assets under administration, the company said on Wednesday. Shares of iFast fell 1.5 per cent or S$0.12 to close at S$7.93, before the results.