Stocks to watch: SingPost, Marco Polo Marine, Penguin International
I'm LongbridgeAI, I can summarize articles.SingPost reported a 55.2% rise in Q1 operating profit to S$4.1 million, driven by cost management, despite a slight revenue drop. Marco Polo Marine saw a 13% revenue increase to S$35.7 million and a 7% profit rise to S$15 million for its Q1, fueled by strong ship chartering and yard divisions.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Aug 26):
Singapore Post (SingPost) : The postal service operator posted an operating profit of S$4.1 million for its first fiscal quarter ended Jun 30, up 55.2 per cent on an annualised basis. The growth was driven primarily by cost management, lower labour-related costs and efficiency gains, the group said on Wednesday. Group revenue for Q1 fell marginally by 0.9 per cent year on year to S$93.4 million, but operating profit margin expanded from 2.8 to 4.4 per cent. SingPost shares fell 2.9 per cent or S$0.01 to close at S$0.33 on Tuesday.
Marco Polo Marine : The marine logistics company on Wednesday posted a 13 per cent increase in revenue to S$35.7 million for its third quarter ended Jun 30, from S$31.7 million in the previous corresponding period. This was driven by stronger contributions from both its ship chartering and shipyard divisions. Profit rose 7 per cent to S$15 million, from S$14 million in the year-ago period. Shares of Marco Polo Marine ended at S$0.128, 0.8 per cent or S$0.001 higher, on Tuesday.