A bad day for the blue chips – 21 out of the Straits Times Index’s (SGX: ^STI) 30 constituents had lost some ground with only five shares managing any gains – had dragged the index down by 0.5% to 3,268 points. With winners seemingly rare today, what were some of the shares that had managed to beat the market?
Land transport outfit ComfortDelGro Corporation (SGX: C52) has gained 0.5% to S$2.10. The company would be releasing its first quarter results soon on 12 May 2014. ComfortDelGro’s latest financials, for the fourth quarter of 2013, saw modest single-digit gains in both revenue and profits. In the announcement, the company also mentioned that it expects revenue for 2014 from all its different business segments to either grow or be maintained. But while that does not seem too negative for the company, it did warn that “cost pressures will continue to be felt throughout the Group.”
SMRT Corporation (SGX: S53) followed yesterday’s 18.5% gain with a 3.7% increase to S$1.26 today. The company, which runs train, bus, and taxi services, was queried yesterday by stock exchange operator and regulator Singapore Exchange over its huge jump in price. SMRT claimed that it had no idea as to why the spike in price happened. SGX had mentioned that it would “investigate all possible transgressions” and would be working with the relevant authorities to “to maintain a fair, orderly and transparent market.”
Sheng Siong Group (SGX: OV8) rounds up the trio with its shares up 3.3% to S$0.62 after seeing its profits grow 19%. The company, which runs its namesake Sheng Siong supermarkets around the country, had released its first quarter results yesterday evening. Quarterly sales had gone up by 5.7% year-on-year to S$190 million but effective cost controls and higher selling prices for its products had helped propel its profits 19% higher to S$12.5 million.
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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.