SG Morning Highlights: Sea shares surge as Q1 earnings, revenue top expectations
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Wednesday; STI up 0.56%
●Sea shares surge as Q1 earnings, revenue top expectations
●Stocks to watch: Sembmarine, CSE Global, Frencken
-moomoo News SG
●Singapore shares opened higher on Wednesday; STI up 0.56%
●Sea shares surge as Q1 earnings, revenue top expectations
●Stocks to watch: Sembmarine, CSE Global, Frencken
-moomoo News SG
Market Trend
Singapore shares opened higher on Wednesday. The $富時新加坡海峽指數(.STI.SG)$ increased 0.56 per cent to 3,219.98 as at 9:00 am.
Advancers / Decliners is 100 to 16, with 31.64 million securities worth S$33.49 million changing hands.
Singapore shares opened higher on Wednesday. The $富時新加坡海峽指數(.STI.SG)$ increased 0.56 per cent to 3,219.98 as at 9:00 am.
Advancers / Decliners is 100 to 16, with 31.64 million securities worth S$33.49 million changing hands.
Breaking News
Sea shares surge as Q1 earnings, revenue top expectations
Shares of $Sea (SE.US)$ have jumped 14% on Tuesday trading after the company posted earnings, beating profit and revenue expectations.
Sea shares surge as Q1 earnings, revenue top expectations
Shares of $Sea (SE.US)$ have jumped 14% on Tuesday trading after the company posted earnings, beating profit and revenue expectations.
The tech company, headquartered in Singapore, posted a loss per share of $0.80 on revenue of $2.9 billion, above estimates of a $1.26 loss per share and revenue of $2.86 billion.
The company said it is on track to achieving its previous projections of profitability in Asia markets.
"Shopee and SeaMoney continued to enjoy operating leverage and efficiency gain as they scale and strengthen their market leadership positions," said Forrest Li, Sea’s Chairman and Group Chief Executive Officer.
Stocks to Watch
$Seatrium (S51.SG)$ : Sembmarine is expecting a "significantly better" financial performance for its upcoming half-year results due to new contract and order developments as well as an improving industry outlook.
Stocks to Watch
$Seatrium (S51.SG)$ : Sembmarine is expecting a "significantly better" financial performance for its upcoming half-year results due to new contract and order developments as well as an improving industry outlook.
This was stated by the marine and offshore engineering group in its Q1 interim business update on Wednesday (May 18), where it said 6 of 12 projects scheduled for delivery in FY2022 have been completed in the year to date (YTD).
$CSE Global (544.SG)$ : Revenue for mainboard-listed CSE Global rose 5.8 per cent to S$117.6 million in the first quarter ended Mar 31, 2022, from S$111.2 million in the year-ago period.
$CSE Global (544.SG)$ : Revenue for mainboard-listed CSE Global rose 5.8 per cent to S$117.6 million in the first quarter ended Mar 31, 2022, from S$111.2 million in the year-ago period.
Infrastructure grew some 56.6 per cent year on year to S$47.3 million in Q1, driven by higher revenue contributions across Australia, Singapore, the United Kingdom and the United States, due to increased investments in public and critical infrastructure.
$Frencken (E28.SG)$ : Frencken net profit fell 12.6 per cent year-on-year to S$12.8 million in Q1 due to higher costs and heightened supply chain challenges in the second half of FY2021.
$Frencken (E28.SG)$ : Frencken net profit fell 12.6 per cent year-on-year to S$12.8 million in Q1 due to higher costs and heightened supply chain challenges in the second half of FY2021.
"Higher prices of materials, freight and energy in 1QFY22 compared to 1QFY21 have driven up input costs and the group is working on cost mitigation actions," the mainboard-listed company said in a business update on Tuesday (May 17).
Revenue went up 9.3 per cent year-on-year to S$198.4 million, driven primarily by double digit sales of the group's mechatronics division, which accounted for 87.1 per cent of the manufacturer's revenue in Q1.
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PaAg1378 : Good performance news doesnt translate to high closing share price today.. Why?