
Earnings forecast for Singapore firms trimmed by 1.3% in FY14
See which sectors could post biggest earnings cuts.
According to DBS, it has tweaked FY14 earnings down by 1.3%.
Here's more:
We now expect FY14F earnings growth of 12% and 9% in FY15F. In terms of sectors, the biggest earnings cuts in % terms vs the previous quarter were from Technology (CSE Global, Venture), Real Estate (CapitaLand, Wing Tai) and Financials (Hutchison Port).
HPH Trust was a big drag on non-bank financials as FY14F earnings were lowered by 20%, affected by higher operating costs and taxes. Real estate earnings were impacted by deferred recognition of pre-sold units and expectations of lower ASPs.