First quarter 2013 results (Part 1)

Companies has started reporting their financial results for the quarter covering 1 Jan to 31 March 2013 (First Quarter 2013).

The following table provides information on net profit attributable to shareholders and year-on-year change between current period in 2013 against corresponding period of 2012.

Net Profits Y-o-Y Change NAV Dividend
CapitaLand $188.1 m + 41.2% $3.61 Nil
DBS $950 m + 2.0% $13.35 Nil
UOB $722 m + 4.9% $17.52 Nil
OCBC $696 m – 16.0% $8.40 Nil
M1 $41 m + 1.8% $0.434 Nil
Keppel Corp $356.9 m – 52.5% $5.33 Nil
Keppel Land $96.6 m – 31.9% $4.11 Nil
SMRT – $12 m – 186% $0.505 Nil
SGX * $97.7 m + 25.6% Not avail 4.0 cents
SPH + $71.5 m – 15.0% $1.35 7.0  cents

* Third Quarter results for SGX ended 31 March 2013
+ Second Quarter results for SPH ended 28 Feb 2013

DBS, UOB and OCBC

DBS and UOB performed well for first quarter with net profit increasing 2% and 4.9% year-on-year respectively. OCBC on the other hand had its net profit declining by 16%.

When comparing net asset value of these bank shares with share prices as at 3 May 2013, price to book values (PTB) are computed below. UOB’s PTB was 1.25 while DBS and OCBC had ratio of 1.30.

NAV Share price Price to Book
DBS $13.35 $17.52 1.31
UOB $17.52 $22.00 1.25
OCBC $8.40 $10.92 1.30

Keppel Corp and Keppel Land

Results of Keppel Corp and Keppel Land for 1st quarter 2013 was affected by the absence of one-time gain on sale of substantial property units of Reflections at Keppel Bay that was recognised in 1st quarter of 2012. Net profit declined 52.5% for Keppel Corp and 31.9% for Keppel Land.

CapitaLand

CapitaLand recorded increase in net profit for the quarter on account of better sale of Singapore and China residential properties. In Singapore, it sold more D’Leedon units after discounts were given to buyers.

M1

MI increased net profit by 1.8%.

SMRT

See my previous post on SMRT results.

SGX and SPH

SGX showed improvement in net profit while SPH showed a decline in net profit for their respective quarter results.

Copyright © 2013, limkimtong for Living Investment

The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.

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