Stocks to watch: UOB, SPH, FLCT, ARA H-Trust, SingPost, Dairy Farm, Hongkong Land, MIT

THE following companies saw new developments that may affect trading of their securities on Thursday:

U11: The bank posted an 18 per cent increase in net profit for Q1 2021. This rebound was driven by record fee income and smaller impairment charges, said the bank in an exchange filing on Thursday morning. Net profit for the first three months ended March 31, 2021 stood at S$1.01 billion, compared with S$855 million in the year-ago period. UOB ended 0.5 per cent or S$0.13 lower at S$26.30 on Wednesday.

XZL: It posted a 9.5 per cent rise in distribution per unit to 3.8 Singapore cents for the first half ended March 31, from 3.47 cents in the comparative period the year before. This came amid a record rise in revenue contributed by Frasers Logistics Trust's merger with Fraser Commercial Trust in April 2020. FLCT units closed flat at S$1.47 on Wednesday.

U11 : The trust's gross revenue was up 6.5 per cent to US$19.6 million for Q1 ended March 31, 2021 from US$18.4 million for the previous quarter. This comes after record vaccination pace and federal stimulus in the US. Stapled securities of ARA H-Trust closed 1 per cent lower or half a US cent lower at 52 cents on Wednesday.

S08 : The group has posted a net profit of S$16.7 million for the half year ended March, down 55.7 per cent mainly due to Covid-19 related disruptions. This was partly offset by higher earnings contribution from the logistics segment as well as the absence of losses from discontinued operations, said SingPost in its filing on Thursday morning. Its shares closed on Wednesday down one Singapore cent or 1.3 per cent at 75.5 cents.

D01: The retail group said on Wednesday that its overall business performance for the first quarter of this year continues to be "significantly affected" by the Covid-19 pandemic. First-quarter performance of its grocery retail store Yonghui in China dipped from the previous year's high base. Gross profit margins also fell as a result of increased competition, said the group in a bourse filing. Shares of Dairy Farm closed 1.1 per cent or US$0.05 at US$4.34, prior to the announcement.

H78: The property developer said in an interim update for Q1 2021 that it is unclear on how the Covid-19 pandemic will affect its full-year results. The group's attributable interest in contracted sales in Singapore fell to US$89 million in the three months from US$170 million in the year-ago period which was attributed to the timing of sales launches. Shares closed on Wednesday at US$4.84, lower by S$0.01 or 0.2 per cent, before the announcement.

ME8U: In a corporate update on Wednesday, the trust said that it remains resilient, owing to its large and diversified tenant base. The manager also noted the trust's strong balance sheet, with more than S$600 million of committed facilities available and an interest coverage ratio of 6.4 times for Q4 FY20/21. Units of MIT ended Wednesday down S$0.03 or 1.1 per cent at S$2.79 before the announcement.

558: The offer price of S$0.20 a share in cash will not change, said the mainboard-listed precision engineering firm in a bourse update on Wednesday, despite an error in the original offer document. UMS shares shed S$0.04, or 2.9 per cent, to S$1.35 at Wednesday's close, before the news.

BEC: The mainboard-listed steel reinforcement solutions provider's net profit fell 15 per cent to S$19.2 million for the half-year ended March 31, 2021, due to lower operating profit margins. Shares of BRC Asia ended Wednesday flat at S$1.54.

T39: Singapore Press Holdings (SPH) requested a trading halt on Thursday morning pending the release of announcements. Shares of SPH ended 1.1 per cent or S$0.02 lower at S$1.79 on Wednesday.