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Several Singaporean companies have demonstrated resilience by not only reporting better financial results but also increasing their dividends despite high inflation and rising interest rates.
Phoenix Media Investment saw its revenue decline by 8% to HK$1.04 billion for the first half of 2024, down from HK$1.13 billion in the same period the previous year. This drop in revenue has contributed to a significant increase in the company's attributable losses.
Chang Hwa Commercial Bank reported a strong NT$7.44 billion profit for the first half of 2024, equating to NT$0.66 per basic share. With net accumulated revenues of NT$20.75 billion, the bank’s financial report highlights its steady performance, although year-on-year comparison figures were not provided.
Hindustan Zinc's recent profit growth and increased zinc sales have buoyed its share price, which has surged 84 per cent this year. Vedanta’s decision to offload a 2.6 per cent stake is part of its broader strategy to manage debt and optimize investments.
Gupta's impact is evident in DBS’s performance metrics. Under his leadership, the bank’s stock price surged from approximately $12 in 2009 to around $34 today, outpacing local rivals and major financial indices. Despite facing occasional technological setbacks and regulatory issues, Gupta's approach to banking has been widely praised for enhancing DBS’s reputation and financial standing.
Raymond Ltd's adjusted profit surged 40% in Q1, driven by strong performance in its real estate and engineering sectors. The company is shifting focus from textiles to these core areas and plans to spin off its real estate division, with further restructuring underway.
Mahindra & Mahindra aims for mid-to-high teens growth for FY25, driven by new launches including the XUV 3XO and the Thar Roxx. Despite a 5% drop in Q1 net profit, the company achieved a 24% increase in SUV sales and a 12% rise in revenue.
Mastercard’s Q2 profit exceeded estimates, driven by strong consumer spending and a 17% increase in cross-border volume. The company’s shares rose nearly 3% in pre-market trading. Despite slowing growth in some rivals, Mastercard's robust performance highlights its strong market position.
Prada posted a 17% rise in first-half revenue, reaching 2.55 billion euros, driven by a 55% sales increase in Japan and a 93% surge for Miu Miu. This performance contrasts with broader luxury sector declines, highlighting Prada's strong brand appeal and resilience despite industry challenges.
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