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.

Vicom : The vehicle inspection company posted a 4.5 per cent increase in net profit for the second half of 2023 on Wednesday. The rise was on the back of higher revenue, which grew 1.9 per cent on year to S$56 million. Net profit for the six months ended Dec 31, 2023, rose to S$13.7 million from S$13.1 million in the corresponding year-ago period. Vicom shares rose 1.4 per cent or S$0.02 to close at S$1.45, before the announcement.

United Hampshire US Real Estate Investment Trust (Reit): The Reit manager announced on Thursday that its distribution per unit (DPU) fell 27.9 per cent on the year to US$0.0214 for the second half year ended December. Distributable income dropped 18.2 per cent to US$13.8 million on higher interest expenses. Net property income for the period advanced 1.7 per cent to US$24.8 million. Units of United Hampshire US Reit closed Wednesday up 1.1 per cent or US$0.005 to US$0.46.

ARA US Hospitality Trust (ARA H-Trust): The stapled group’s distribution per stapled security for the half year ended December 2023 was up 18.6 per cent to US$0.01929, from US$0.01627 in H2 FY2022. Revenue rose 2 per cent year on year to US$89.5 million, while net property income climbed 26.4 per cent to US$25.7 million, its managers reported on Thursday. Stapled securities of ARA H-Trust closed Wednesday 1.9 per cent or US$0.005 higher at US$0.27.

Prime US Reit : The Reit’s DPU for the second half fell over 90 per cent year on year, as the manager opted to preserve a “substantial proportion of distributable income”. On Wednesday, the manager reported that DPU for the second half fell to US$0.0025, down from US$0.0303 in the year-ago period. Units of Prime US Reit rose 3.9 per cent or US$0.004 to close at US$0.107, before the results.

OUE Healthcare : The Catalist-listed healthcare group is expecting higher year-on-year profit after tax for the second half and full year ended Dec 31, 2023. On Wednesday, the company said it expects stronger results due to net fair-value gains relating to its investment properties. Shares of OUE Healthcare closed unchanged at S$0.026, before the announcement.