With a 0.7% climb to 3,278 points, the Straits Times Index (SGX: ^STI) has extended its winning streak to six days. It was mostly a good day for the index’s 30 constituents as 23 shares had made some gains with only three losing ground.
But while the blue chips were generally doing fine, there were a significant number of shares outside the index that were posting losses. Let’s take a look at some of them.
Food Empire (SGX: F03) fell 3.8% to S$0.385 after announcing yesterday that it is “expected to report a net loss for [the first quarter of 2014].” The maker of instant coffee mixes and snacks operates predominantly in Russia and Ukraine and the recent political turmoil between the two nations have affected the company’s businesses by creating unfavourable swings against the US dollar for both nations’ currencies.
Food Empire has yet to finish crunching its numbers and investors would only get to know exactly how it fared when it releases its financials “on or before 15 May 2014.”
Offshore and specialised vessels builder Vard Holdings (SGX: MS7) has slipped by 1% to S$1.01. The company had revealed recently that it would announce its first-quarter results soon on 29 April 2014.
For the whole of 2013, Vard Holdings had seen its revenue inch up by 0.2% to NOK11.16 billion, while profits were slashed by 56% to NOK357 million. In its last earnings release for the fourth quarter of 2013, the company mentioned that it “expects an improvement in financial performance for 2014, but performance of the Brazilian shipyards is key to a recovery in margins.” In light of that, it might be worthwhile for investors to keep a close watch on how Vard Holdings’ Brazilian shipyards have fared so far for 2014.
M1 (SGX: B2F) rounds up the trio with a dip by 0.9% to S$3.32. Just last week, Singapore’s smallest telecommunications operator turned in its first-quarter report card and actually posted a 1.2% year-on-year decline to S$240 million in quarterly revenue. Despite that, the telco still managed to eke out a 5.7% increase to S$43 million in profit for the quarter.
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