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Three Shares That Beat the Market Today

After a nice mid-week break on Tuesday due to Vesak Day, the Straits Times Index (SGX: ^STI) here in Singapore has come roaring back with a 1.1% increase to 3,259 points. Within the index’s 30 constituents, there were 23 shares that had ended the day with gains while only two were unfortunate enough to clock losses.

It’s not uncommon for shares to move strongly upward in the few days after they’ve released pleasing quarterly earnings and the three market beaters we’d be taking a look at shortly have done just that.

ComfortDelGro Corporation (SGX: C52) is up first with a 4.3% jump to S$2.21. The land transport outfit’s first quarter earnings was released on Monday evening after the markets had closed. Quarterly revenue for ComfortDelGro had hit a “record” after increasing by 9.2% year-on-year to S$950.8 million. The top-line growth was aided by two factors: 1) “broad-based” growth in the company’s key businesses; and 2) favourable currency swings involving the Sterling pound and Chinese reminbi against the Singapore dollar.

The gain in revenue eventually trickled down to ComfortDelGro’s bottom-line as profits at the company ticked upwards by 9.7% year-on-year to S$63.3 million.

Palm oil producer Kencana Agri (SGX: F9M) had spiked by 13% to S$0.26 today. Yesterday, the company’s first quarter report card was handed in and investors saw quarterly revenues plummet by 44% year-on-year to US$50.2 million. The main culprit for the decline was due to lower sales volume of crude palm oil from the company.

But while the decrease in top-line was bad, Kencana Agri’s profits actually rocketed from US$104,000 in the previous year to US$6.13 million. The company pinned the profit growth on an increase in average selling prices for its crude palm in addition to have enjoyed higher foreign exchange gains due to the Indonesia rupiah strengthening against the US dollar.

Penguin International (SGX: P13) rounds up the trio with its shares up 10.8% to S$0.215. The marine and offshore services company had released its first quarter results on Monday and had experienced huge growth. Revenue was 55.2% higher than a year ago at S$30.8 million while profits actually ballooned by 356% from S$1.55 million to S$7.09 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.