Second quarter 2013 results (Part 2)

Companies were reporting their financial results for the quarter covering 1 April to 30 June 2013 (Second Quarter 2013).

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

  Net Profits Y-o-Y Change NAV Dividend
UOL $431m +151.0% $8.50 Nil
CapitaLand $383m – 0.7% $3.69 Nil
City Dev $203m + 48.0% $8.30 8 cts
Keppel Land $95m + 0.9% $4.06 Nil
Keppel Corp $346m – 33.4% $4.98 20.8 cts *
SembCorp Ind $165m – 13.3% $2.54 Nil
Semb Marine $124m – 12.5% $1.18 5 cts

* Cash 10 cents, dividend in specie Keppel Reit 10.8 cents

Property Developers

UOL’s net profit rose 151% over the corresponding period of preceding year. The profit includes fair value gains on investment properties including those associated companies of $336 million.

City Developments’ profit increased 48% year-on-year. In the case of CapitaLand and Keppel Land, their performances were comparable to corresponding period of 2012.

  Price at 7/8/13 NAV Price to Book
UOL $6.65 $8.50 0.78
CapitaLand $3.23 $3.69 0.87
City Dev $10.65 $8.30 1.28
Keppel Land $3.67 $4.06 0.90

In terms of price-to-book ratio, only City Developments was trading above its net book value.

Marine & Offshore business

According to Keppel Corporation, excluding one-time gains from the sale of Reflections at Keppel Bay units and some investments, the performance of the first half of this year is comparable to that of the same period last year. Second quarter net profits was 33.4% down year-on-year.

SembCorp Industries’ net profits also declined but at 13.3% lower due to poorer marine business. SembCorp Marine’s net profit declined 12.5%.

Keppel Corp proposed interim dividend of 20.8 cents comprising cash 10 cents and dividend in specie Keppel Reit 10.8 cents.

Following table is for information. Better ratio would be Price Earning (PE) ratio.

  Price at 7/8/13 NAV Price to Book
Keppel Corp $10.29 $4.98 2.06
SembCorp Ind $5.07 $2.54 1.99
Semb Marine $4.49 $1.18 3.80

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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