Listed firms see 13.6% rise in total Q2 profit
Heavyweights show strong results, with 3 local banks seeing growth in profit
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[SINGAPORE] The second quarter of 2014 was a decent one for Singapore-listed firms that have posted quarterly results, with a 13.6 per cent increase in combined profits to S$6.91 billion over the previous year.
Of the 161 firms that have released earnings, only 32 were in the red, while the other 129 turned a profit.
Market heavyweights fea-tured prominently among the firms with strong results for the quarter. All three local banks saw growth in profit, but OCBC Bank stood out with a 54.3 per cent gain in net profit to S$921 million. It beat analysts' expectations with a combination of strong earnings from its core business and its insurance arm, Great Eastern Holdings.
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