You are here
Stocks to watch: Boustead Singapore, Olam, Wilmar, Golden Agri, Bumitama Agri
THE following companies saw new developments which may affect trading of their shares on Tuesday:
Boustead Singapore: The infrastructure and engineering group more than quadrupled its first-quarter net profit to S$12.2 million for the three months ended June 30 on the back of better operating performance and sizeable one-time gains. Adjusting for one-time gains and losses net of non-controlling interests, the group said that net profit would have grown 72 per cent year-on-year to about S$3.3 million.
Olam International: The commodity trader's second-quarter profit fell 36.4 per cent to S$94 million. Excluding exceptional items, core profit fell 40.6 per cent to S$91.4 million. An interim dividend of 3.5 Singapore cents per share was declared, unchanged from the first half last year.
Wilmar International: The agribusiness group's second-quarter profit rose to US$316.4 million, more than five times its year-ago profit of US$59 million on the back of stronger performance in its oilseeds and grains, and in its tropical oils segments. Wilmar has declared an interim dividend of 3.5 Singapore cents per share.
Golden Agri-Resources: The Indonesia-based palm oil producer fell into a net loss of US$39.02 million for the second quarter from a year-ago profit of US$21.88 million amid softer prices and foreign exchange losses. Fresh fruit bunch production declined to 4.60 million tonnes for the first half from 4.70 million tonnes a year ago, while palm product output shrank to 1.32 million tonnes from 1.34 million tonnes. Golden Agri said "tree stress" – explained as a biological slowdown after the high production in 2017 – accounted for the lower outputs.
Bumitama Agri: Net profit for the Indonesian palm oil producer rose 36.1 per cent to 388.06 billion Indonesian rupiah (S$36.6 million) on higher sales volume amid a recovery in palm production. Bumitama is declaring an interim dividend of 0.75 Singapore cent per share, in line with its year-ago payout.
CityNeon Holdings: The events and exhibitions group's net profit doubled to S$9 million for the second quarter ended June 30, from S$4.2 million a year ago, partly due to higher sales from its Intellectual Properties Experiences business segment.