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Three Shares That Beat the Market Today

The Straits Times Index (SGX: ^STI) is once again above 3,300 points as it went up by 0.2% to 3,302. Within the index’s 30 constituents, 14 shares had ended the trading session with gains while 11 others suffered losses.

It’s a fairly mediocre day for Singapore’s blue chips on average, but the same can’t be said for shares outside the index as there were a fair number that had made meaningful gains for the day. Let’s take a look at a few such shares.

JK Tech Holdings (SGX: 5TS) has gained 3.7% to S$0.705. The company had released its full-year earnings last Tuesday evening and saw a 305% jump in profit to S$1.08 million. The market reacted very favourably with its shares subsequently gaining 9.9% to S$0.665 last Wednesday. Since then, JK Tech’s shares have increased by a further 6%.

GP Batteries (SGX: G08) shares have increased by 3.6% to S$0.58. Just last Thursday, the battery maker had revealed its full-year earnings for the financial year ended 31 March 2014. It wasn’t a good year for the company as revenue dipped by 3.6% year-on-year to S$695 million while its loss actually widened from S$16.2 million to S$52 million.

That said, it wasn’t all doom and gloom for the company. The bulk of its losses had stemmed from one-off impairments to its failed electric vehicle project as well as a factory in Taiwan. If those were stripped away instead, GP Batteries would have earned a pre-tax profit of S$20 million for the year.

Engineering outfit Hiap Seng Engineering (SGX: 510) rounds up the trio with its shares up 2.4% to S$0.21. The company, which provides engineering services to other companies in the oil & gas, petrochemical, and pharmaceutical industries, had just released its latest financial report card last week.

For the financial year ended 31 March 2014, Hiap Seng Engineering’s turnover had grown by 9% from the previous year to S$259 million. Unfortunately, costs had escalated across the board leading to a loss of S$3.58 million as compared to a profit of S$7.53 million a year ago. The biggest culprit was a 24.5% decline in gross profit to S$19.2 million; that trickled all the way to the bottom-line. Hiap Seng pinned the drop in gross profit on “cost overruns in certain projects and escalating labour costs.”

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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.