Coporate Results Update

Indofood Agri Resources announced a 586% rise in quarterly profit, mostly driven by additional revenue from its recent acquisition of subsidiaries. This is in line with the broad rise in commodity prices this year.

For the medical healthcare sector, Raffles Medical announced a 48% rise in quarterly profit.

For the transport sector, SMRT announced a -5.5% fall in quarterly profit despite a 14.3% rise in revenue, largely due to higher operating expenses, especially higher oil prices.

for the retail sector, Jardine C&C, one of the region's largest automotive retailers, announced a 64% rise in quarterly profit, which is surprising given that rising inflation and poor economic outlook is supposed to reduce consumer spending.

For the property sector, Capitaland announced a -59% fall in quarterly profit. But upon closer examination, its revenue and gross profit actually registered -1% and 9% respectively, and that the fall was mostly attributed to the exceptional fair value gains of its investment properties last year.

Cosco Corp, one of the leading S-shares in terms of growth potential and market cap, announced a 110% rise in quarterly profit.