While 51% met expectations compared to 44% in 1Q, the number of disappointments fell to 21% in 2Q from 31% in the previous quarter, with notable disappointing results including those of Raffles Medical and Ezion.
SINGAPORE (Aug 17): UOB Kay Hian has upgraded its FTSE Straits Times Index (FSSTI) target forecasts up to 3,410 from 3,250 previously on “pockets of solid outperformances” in the 2Q17 financial reporting season, which concluded this week.
In a Thursday report, analyst Andrew Chow recaps on what he calls an encouraging 2Q17 reporting season, which saw 28% of companies reporting results that exceeded UOB’s expectations versus 24% in the previous quarter – with the beats concentrated on banks and technology/exporters.
