The following companies saw new developments that may affect trading of their securities on Thursday (Nov 9):
Singtel on Thursday (Nov 9) posted an 82.6 percent rise in net profit for the first half of 2023, supported by an exceptional gain from regional associate Telkomsel’s integration of IndiHome, a fixed broadband provider in Indonesia. Net profit for the six months ended Sep 30 stood at S$2.1 billion, compared with a net profit of S$1.2 billion in the same period last year. The results translate to an earnings per share (EPS) of S$0.1294, compared with an EPS of S$0.0709 in the year-ago period.
CapitaLand Investment(CLI) posted a 3 percent drop in revenue to S$2.1 billion for the nine months ended Sep 30, compared with S$2.2 billion in the corresponding period the previous year. The dip in revenue was due to an 8 percent decline in revenue of its real estate business to S$1.4 billion. This was partially offset by a 9 percent growth in its fee income-related business at S$799 million, said the manager in a business update on Thursday (Nov 9).
StarHub posted a 36.5 percent rise in net profit to S$37.3 million for the third quarter ended Sep 30, up from S$27.4 million in the corresponding period a year earlier. Total revenue grew 5.3 percent year on year to S$622.1 million, from S$590.8 million a year ago.
Food Empire Holdings on Wednesday (Nov 8) posted a 30.6 percent decline in net profit to US$15.7 million for its third quarter ended Sep 30. This is down from US$22.6 million in the corresponding year-ago period. The decrease in net profit was attributed to the absence of a one-off gain of US$15 million from the disposal of a non-core asset in Q3 2022, said the instant coffee manufacturer in a business update, though it added that this was partly offset by better-operating profits and lower foreign-exchange losses.
Far East Orchard posted earnings of S$7.6 million for the first nine months ended September, up 18.8 per from S$6.4 million the year before, on the back of a continued recovery in the hospitality sector. Revenue jumped 36.7 percent to S$134.1 million for 9M FY2023, from S$98.1 million in the year-ago period. In a business performance update on Wednesday (Nov 8), the group attributed its revenue growth to the hospitality business, which has continued to recover strongly, with international demand for travel driving higher occupancies and room rates.
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