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Author: traderhub8   |   Latest post: Thu, 22 Aug 2019, 11:59 AM

 

Phillip Capital Morning Note - 1 Aug 2019

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Singtel's outlook was cut to "negative" by credit agency Standard & Poor's on Wednesday, a week before the telco is slated to release its first-quarter results.

SGX on Wednesday posted a net profit of S$103.9 million in the fourth quarter, up 24.1 per cent from the same period a year earlier. Revenue in the three months ended June 30 rose 16.5 per cent to S$248 million, led by record derivatives revenue of S$130.1 million, up 52.2 per cent from the same period a year earlier. Equities and fixed income revenue fell 9.4 per cent to S$92 million.

SIA's net profit for the first quarter ended June fell 20.7 per cent to S$111 million from S$140 million a year ago owing to higher share of losses from associated companies and net finance charges plus an uptick in expenditure.

Roxy-Pacific Holdings saw earnings decline in the second quarter, according to results released on Wednesday, on a mix of higher costs and drops in both operating income and contributions from associates.

No Signboard Holdings will likely extend its losses into its third quarter to June 30, the board warned on Wednesday. The group - which had rung up losses of S$337,500 in the three months prior - "is expected to report a net loss resulting mainly from lower revenue coupled with higher operating costs", the board said.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR

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