Following last week’s discussions about US government spending (also known as the sequestration) the Straits Times Index (SGX: ^STI) slid by 0.90% to 3239. However, there were shares that bucked the market trend and managed to eke out some gains.
Goodpack Limited’s (SGX: G05) shares ended the day at $1.92, a small jump of 0.52%. The world’s largest provider of returnable and environmentally-friendly Intermediate Bulk Containers saw its half-yearly profit increase by 7% from US$22.5m to US$24.1m. It’s earnings per share only increased by 1.3% from US$0.045 to US$0.046 due to an increase in the company’s share count. The company’s management commented that they are still “focused in managing logistics & handling expenses, foreign exchange and interest rates volatility.”
Luxury watch retailer Hour Glass Limited’s (SGX: E5P) shares increased by 0.57% to $1.76. The company’s third quarter report saw a 4% drop in revenue for the first nine months of the year from S$449.6m to S$433.6m, mainly due to weak consumer sentiment. Profit for the same period decreased by a larger margin of 9% from S$37.4m to S$34.0m – mainly because of an increase in operating expenses for the opening of one new boutique each in Singapore, Hong Kong and Australia. Hour Glass was also appointed as the exclusive licensee for French pastry, gifts and beauty products company, Ladureé in Singapore and its products would be sold here starting in April 2013.
United Overseas Bank Limited (SGX: U11) rounds up the trio today as its shares climbed 0.68% to $19.28. The local bank posted positive full year results for 2012 as its net profit jumped by 20.5% from S$2.32b to S$2.80b. A final dividend of $0.50 per share was recommended, subject to shareholder’s approval, and would bring total dividend per share to $0.70 for 2012 if approved.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Contributor Chong Ser Jing doesn’t own shares in any companies mentioned.