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Three Shares That Lost To the Market Today

The Straits Times Index (SGX: ^STI) managed to log a small gain of 0.1% to 3,071 points today. Within the 30 blue chips that comprise the index, only nine shares had made some headway in the trading session whilst 15 others weren’t as fortunate as they had made losses.

That said, the biggest loser was marine engineering outfit SembCorp Marine (SGX: S51), which shed a relatively mundane 1.9% of its market price to S$4.09. Let’s check out some shares that had made bigger losses.

IFS Capital (SGX: I49) is down 3.8% to S$0.385. The company, which provides capital and credit solutions for businesses in Singapore, warned investors last Wednesday about its upcoming full-year results for 2013.

IFS is “expected to report a net loss for Q4 2013 [the fourth quarter of 2013]” as compared to a profit of S$2.05 million it had earned in the corresponding period in 2012. The expected losses in the fourth quarter for IFS would likely cause it to report a loss for the whole of 2013 as well.

The company had cited “higher specific allowances for loan losses and receivables set aside by the Malaysian operations” as the main culprit for its expected-losses.

Roxy-Pacific Holdings (SGX: E8Z) dropped 2.5% to S$0.575. The residential and commercial property developer had released its full-year earnings for 2013 last Thursday and saw huge growth in both its top- and bottom-line.

Annual revenue for Roxy-Pacific almost doubled from S$191 million in 2012 to S$369 million while profits jumped 58% to S$7.73 million. The company’s growth came on the back of revenue recognition from its development projects in Singapore, which includes WIS@Changi, Treescape, The MKZ, Spottiswoode 18, and Space@Kovan among others.

Steel supplier HUPSteel (SGX: H73) rounds up the trio as its shares slipped 2.3% to S$0.21. The company’s second quarter results were released last Thursday. For the six months ended 31 Dec 2013, HUPSteel’s revenue dipped 5% year-on-year to S$64 million, though its profits actually jumped by 23% to S$1.7 million.

HUPSteel had faced weaker sales for its steel products, but saw a 10% year-on-year rise in gross profit from S$9.1 million to S$10.0 million. The company’s gross profit margin had expanded due mainly to “more stable prices of pipes & fittings and delivery of higher priced structural steel products [that] were contracted earlier.” The improvement in gross profit eventually trickled down to its bottom-line, leading to the 23% profit growth.

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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 writer Chong Ser Jing doesn’t own shares in any companies mentioned.