Companies were reporting their financial results for the last quarter covering 1 January to 31 March 2014 (First Quarter 2014).
The following table provides information on net profit attributable to shareholders for the quarter and year-on-year change between current period in 2014 against corresponding period of 2013. The dividends are the ones declared for the current quarter.
|Net Profits||Y-o-Y Change||NAV/RNAV||Dividend|
|DBS||$1231.0 m||+ 30.0||$14.14||Nil|
|OCBC||$899 m||+ 29.0||$8.75||Nil|
|UOB||$788 m||+ 9.2||$18.57||Nil|
|SGX +||$75.8 m||– 22.0||78.7 cents||4 cents|
|SPH +||$81.3 m||+ 7.5||$2.17||7 cents|
|SIA *||$359.5 m **||– 5.3||$11.26||36 cents|
|Keppel Corp||$338.6 m||– 5.1||$5.51||Nil|
|Sembcorp Ind||$184.8 m||+ 4.5||$3.04||Nil|
|Sembcorp Marine||$122.4 m||+ 3.1||$1.33||Nil|
|Singtel *||$898.3 m||+ 3.5||$1.50||10 cents|
|StarHub||$84.2 m||– 7.7||9.8 cents ++||5 cents|
|M1||$42.8 m||+ 4.4||48.2 cents||Nil|
|UOL||$120.8 m||+ 69.0||$8.93||Nil|
|CapitaLand||$182.7 m||– 1.7||$3.86||Nil|
|Keppel Land||$87.7 m||– 9.2||$4.58||Nil|
|City Developments||$119.6 m||– 13.1||$8.63||Nil|
|Comfort Delgro||$63.3 m||+ 9.7||$1.04||Nil|
|SBS Transit||$3.2 m||+ 16.8||$1.12||Nil|
|SMRT *||$61.9 m **||– 25.7||52.7 cents||1.2 cents|
+ different quarter end other than first quarter
* Year end of 31 March 2014
** Full year results
++ at Group Level
NAV/RNAV = Net Asset Value or Revalued Net Asset Value.
Local transport space
Comfort Delgro’s net profit increased 9.7% for the quarter. SBS Transit (75% owned by Comfort Delgro) surprised on the upside when its net profit rose 16.8% for the quarter. Net profit of SMRT for the last quarter was $16.9 million reversing a loss (-$11.9 million) in the corresponding quarter of the previous financial year. For the full year, its net profit declined 25.7% year-on-year to $61.9 million. In terms of net assets per share, SMRT was just 52.7 cents, whereas Comfort Delgro and SBS Transit was more than a dollar.
Of the four property developers tracked, UOL’s net profit jumped 69%. “The increase was due mainly to the sale of land in Malaysia, which netted a one-off attributable gain of $44.3 million.” (Source: UOL’s announcement to SGX) Without this one-off gain, its net profit increased 6.8% over the same quarter last year. UOL’s performance for the quarter was still ahead of three major property developers. City Developments fared the worst with a 13.1% decline in net profit.
StarHub’s net profit declined whereas M1’s net profit increased. Singtel held on to a positive gain in net profit, rising 3.5% for the latest quarter. Final dividend proposed was 10 cents and together with interim dividend paid out of 6.8 cents, the dividend payout ratio was 74% of underlying net profit. This is near the upper end of 60% to 75% dividend payout ratio policy of the company.
As for the other sectors, please refer to my earlier posts on the subject.
Copyright © 2014, limkimtong for Living Investment
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