I'm LongbridgeAI, I can summarize articles.Singtel reported a 71.6% drop in Q1 net profit to S$818 million due to prior-year exceptional gains, though underlying profit rose 21%. ST Engineering posted a 27.1% increase in H1 net profit to S$512.1 million driven by segment growth. These financial results are key developments affecting trading for both companies.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Aug 13):
Singtel : The telco on Thursday reported a 71.6 per cent fall in first-quarter net profit to S$818 million. It attributed the decline to exceptional gains from the sale of a partial stake in Airtel and the Intouch-Gulf Energy merger in the same quarter last year. Underlying net profit, on the other hand, is up 21 per cent at S$831 million, driven by Airtel, AIS, NCS, Optus and its Digital InfraCo arm. Shares of Singtel fell 0.5 per cent or S$0.02 to S$4.29 after the market closed on Wednesday.
ST Engineering: On Thursday, the company posted a 27.1 per cent rise in net profit to S$512.1 million for its first half ended Jun 30, from S$402.8 million in the previous corresponding period. This was mainly due to growth across all its business segments. Shares of ST Engineering closed S$0.08 or 0.78 per cent higher at S$10.28 on Wednesday.