Posts by Stephanie Irvin
CDL posts 32% rise in H1 profit to S$87.8 million
The board declares a special interim ordinary dividend of S$0.02 per share for the financial year CITY Developments Ltd’s (CDL) net profit for the first half-year ended Jun 30, 2024, rose 32 per cent on the year to S$87.8 million from S$66.5 million. This comes even as the company’s revenue fell 42.2 per cent to…
Read MoreAt 83, Kwek Leng Beng confident of seizing opportunities, as CDL posts 32% rise in H1 profit
CITY Developments Ltd’s (CDL) executive chairman Kwek Leng Beng says he is confident of seizing opportunities and making acquisitions notwithstanding high interest rates and global uncertainties. At a briefing after CDL posted a 32 per cent year-on-year rise in first-half net profit to S$87.8 million, the 83-year old said: “I seize the opportunity when everybody…
Read MoreST Engineering’s H1 profit rises 19.9% to S$336.5 million
SINGAPORE Technologies Engineering’s (ST Engineering) profit for the first half ended Jun 30, 2024, grew 19.9 per cent year on year to S$336.5 million from S$280.6 million previously. Earnings per share for the period stood at S$0.108, up from S$0.0901 in the same period the year before. The group’s board has approved a second interim…
Read MoreFirst Resources H1 profit rises 45.4% to US$103.9 million
It attributes the better financial performance to higher production volumes and improved processing margins FIRST Resources announced on Wednesday (Aug 14) a net profit of US$103.9 million for the first half of FY2024, up 45.4 per cent from US$71.5 million in the same period last year. Half-year revenue rose 1.9 per cent to US$457.2 million,…
Read MoreCarlsberg sees higher profit as cost cuts offset weak demand
CARLSBERG increased its profit growth outlook for the year as cost controls helped the Danish brewer to offset weaker consumer demand. Organic operating profit will rise between 4 per cent and 6 per cent this year, up from previous guidance of between 1 per cent and 5 per cent, the Tuborg maker said on Tuesday…
Read MoreNvidia rebound adds US$420 billion market value in four days
IT’S been a rough six weeks for Nvidia shareholders. A historic dip that erased record market value from the company was followed by a four-day stretch of stomach-churning volatility. Now, though, signs are emerging the worst might be over. The chipmaker’s shares have surged 17 per cent in the past four sessions, adding nearly US$424…
Read MoreNvidia rebound adds US$420 billion market value in four days
IT’S been a rough six weeks for Nvidia shareholders. A historic dip that erased record market value from the company was followed by a four-day stretch of stomach-churning volatility. Now, though, signs are emerging the worst might be over. The chipmaker’s shares have surged 17 per cent in the past four sessions, adding nearly US$424…
Read MoreStarbucks names Brian Niccol as CEO, replacing Narasimhan
The abrupt leadership shakeup comes after activist investors Elliott Investment Management and Starboard Value reportedly amassed stakes in the company Starbucks has named Chipotle Mexican Grill chief executive officer Brian Niccol as the coffee chain’s new CEO and chairman, replacing Laxman Narasimhan after just over a year in the role. Chief financial officer Rachel Ruggeri…
Read MoreHalcyon Agri’s H1 loss narrows to US$21.8 million
RUBBER producer Halcyon Agri posted a loss of US$21.8 million for the six months ended June 2024. This was compared to a loss of US$62.1 million in the year-ago period. Revenue increased 25.7 per cent to US$1.5 billion, from US$1.2 billion. In a bourse filing on Tuesday (Aug 13), the group attributed this to expanded…
Read MoreSea posts US$79.9 million Q2 profit, beating estimates
GAMING and e-commerce player Sea on Tuesday (Aug 13) posted a net profit of US$79.9 million for the three months ended Jun 30, down 75.9 per cent from US$331 million in the corresponding year-ago Q2 period. Despite the decline, the figure was still higher than the US$60 million estimate in a Bloomberg poll of 12…
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