H1 corp earnings a big let-down

Singapore

PLEASANT surprises were few and far between in the most recently ended quarter of corporate earnings in Singapore. Results in the season largely disappointed, particularly in the troubled offshore and marine industry, analysts said, adding that the outlook for the rest of the year was gloomy especially for sectors such as banks.

As at 7.13pm Friday, 394 Singapore-listed companies had released their financial results for the six months ended June 2016, figures compiled by The Business Times showed. About two-thirds of them or 260 companies were in the black for the half-year and the remaining 134 were loss-making.