Stocks to watch: Wilmar, Emperador, Olam, Golden Agri, Haw Par, HPL, Yangzijiang Financial, AEM

Goh Ruoxue

Goh Ruoxue

Published Mon, Aug 14, 2023 · 08:47 AM
    • Wilmar International's net profit is down 52.7 per cent drop for the half year ended June 2023 due to lower contributions from food products and feed, as well as industrial products.
    • Wilmar International's net profit is down 52.7 per cent drop for the half year ended June 2023 due to lower contributions from food products and feed, as well as industrial products. PHOTO: BT FILE

    THE following companies saw new developments that may affect trading of their securities on Monday (Aug 14):

    Wilmar International : The agribusiness group posted on Friday a 52.7 per cent drop in net profit for the half year ended June 2023 to US$551 million, from US$1.2 billion last year. This was attributed to lower contributions from food products and feed, as well as industrial products. Shares of Wilmar fell 0.8 per cent or S$0.03 to S$3.81, before the announcement.

    Emperador : The Philippine liquor giant reported on Friday an 11 per cent climb in revenue to 31 billion pesos (S$742 million) in the first half of this year from a year ago, due to its stellar whiskey performance. The counter closed flat at S$0.515, after the announcement. 

    Olam Group : The agri food giant posted on Friday an 88.8 per cent decline in net profit to S$48 million from S$429.1 million in the year-ago period, due to a one-off exceptional loss on lower almond yields in Australia. Its board of directors has declared an interim dividend of S$0.03 per share, which will be paid out on Aug 28, for the period under review, down from S$0.04 per share last year. Its shares closed flat at S$1.31, before the announcement.

    Golden Agri-Resources : The mainboard-listed palm oil company on Monday posted a 55.4 per cent drop in Q2 profit to US$90 million from US$202 million in the same period last year, after revenue dropped 16.2 per cent to US$2.3 billion from US$2.8 billion. This was mainly due to the normalisation of crude palm oil prices and a slowdown in production. Shares of Golden Agri closed flat at S$0.25.

    Haw Par Corporation : The mainboard-listed group posted on Friday a 34.9 per cent rise in net profit to S$104.1 million for the six months ended Jun 30, 2023, from S$77.2 million in the year-ago period. The board has proposed an interim dividend of S$0.20 per share for H1 FY2023, which will be paid out on Sep 7. Shares of Haw Par closed at S$9.88, up 0.7 per cent or S$0.07, before the announcement.

    Hotel Properties Limited (HPL): The group posted on Friday a S$17.2 million net loss for its first half-year ended Jun 30, reversing from a net profit of S$1.9 million posted in the corresponding year-ago period. This was due to higher borrowing costs, the company said. Its shares closed at S$3.65, down S$0.01 or 0.3 per cent, before the announcement.

    Yangzijiang Financial Holding : The company posted on Saturday a net profit of S$162.5 million for the first half of the fiscal year ended June, up 19.2 per cent from S$136.4 million in the corresponding year-ago period. On a per-share basis, earnings rose to S$0.0439 from S$0.0345. Shares of Yangzijiang Financial ended flat at S$0.36. 

    AEM Holdings : The semiconductor equipment maker posted a drop of 76 per cent in net profit to S$19.7 million for H1 FY2023 from S$82.8 million a year prior. Earnings per share dipped to S$0.0637 for the half year, from S$0.2678 for H1 FY2022. The group’s shares closed at S$3.42, down 0.9 per cent or S$0.03, before the earnings report.