Year in Review: 5 Best-Performing Stocks of 2023

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Earlier this week, we highlighted the five best-performing blue-chip stocks in Singapore.

These blue-chip stocks provide stability and certainty with their long track record.

However, there are also stocks outside of the blue-chip universe that have delivered solid returns.

We turn our attention to five stocks whose share prices have done well this year.

Food Empire (SGX: F03)

Food Empire is a food and beverage (F&B) manufacturer and distributor with a portfolio spanning beverages, snack foods, and food ingredients.

The group has eight manufacturing facilities in five countries with 23 offices worldwide.

Shares of the F&B manufacturer soared by 72.3% year-to-date (YTD) to close at S$1.12.

For the first nine months of 2023 (9M 2023), revenue increased by 6.7% year on year to US$305.1 million.

Operating profit surged 55.7% year on year to US$54.3 million.

The business, however, incurred a foreign exchange loss of US$1.4 million versus an exchange gain of US$3.6 million in 9M 2022, resulting in net profit tumbling by 14.8% year on year to US$42.3 million.

Despite the weaker results, Food Empire generated a positive operating cash flow of US$24.5 million and had cash of US$115.6 million on its balance sheet as of 30 September 2023.

The group has also been included in Forbes Asia’s prestigious “Best Under a Billion” list for the third time.

Delfi Limited (SGX: P34)

Delfi manufactures and distributes F&B products and has an established portfolio of chocolate brands such as SilverQueen and Ceres in Indonesia.

The group also distributes well-known agency brands in Indonesia, Malaysia, and the Philippines.

Delfi’s shares have climbed 42.3% YTD to end at S$1.11.

The group provided an encouraging business update for the third quarter of 2023 (3Q 2023) and 9M 2023.

Revenue increased by 12.9% year on year to US$126.4 million with growth seen in both Indonesia and regional markets.

For 9M 2023, revenue increased by 15.2% year on year to US$412.6 million with net profit jumping 22.1% year on year to US$32.8 million.

The chocolate manufacturer ended the quarter with US$61.9 million of cash along with US$18.3 million of debt on its balance sheet.

For 9M 2023, Delfi generated a positive free cash flow of US$22.9 million, higher than the US$14 million generated in the same period last year.

iFAST Corporation Limited (SGX: AIY)

iFAST is a financial technology company that hosts a platform for the buying and selling of unit trusts, equities, and bonds.

Shares of the fintech climbed 39.6% YTD to close at S$8.11.

For 9M 2023, net revenue increased by 18.1% year on year to S$104.5 million.

Operating profit more than doubled year on year to S$20.3 million while net profit nearly tripled year on year to S$15.1 million.

iFAST declared and paid out an interim dividend of S$0.013, unchanged from a year ago.

The group’s assets under management (AUA) also hit a new record high of S$19.12 billion as of 30 September 2023 as net inflows stayed positive at S$751 million for the quarter.

iFAST’s Hong Kong ePension division made its maiden revenue contribution in 3Q 2023 and management believes that 2023’s profitability will be higher than 2022.

Civmec Ltd (SGX: P9D)

Civmec is an integrated construction and engineering services provider that serves the energy, resources, infrastructure, and marine & defence sectors.

Headquartered in Australia, the group offers a wide range of capabilities such as heavy engineering, shipbuilding modularisation, and site civil works.

Shares of Civmec have risen 32.8% YTD to close at S$0.77.

For the group’s fiscal 2024’s first quarter (1Q FY2024) ending 30 September 2023, revenue increased by 7.3% year on year to A$245.1 million.

Net profit improved by 7.3% year on year to A$15.2 million.

Civmec’s operating cash flow for 1Q FY2024 jumped more than fourfold year on year from A$8.2 million to A$40.1 million.

Its order book also improved by 17.9% year on year to A$1.1 billion.

Construction of Civmec’s new maintenance facility in Port Hedland is proceeding well.

The group also submitted a development application for approval to construct a maintenance facility in Gladstone in central Queensland.

CSE Global Ltd (SGX: 544)

CSE Global is a systems integrator that provides automation, communications, and electrification solutions to clients in various industries.

Shares of CSE Global jumped 23.5% YTD to end at S$0.42.

For its 3Q 2023 business update, the group saw revenue for 9M 2023 surge 32.6% year on year to S$534.7 million.

Of its three divisions, communications and electrification saw year-on-year revenue increases while automation saw a slight 4.5% year on year revenue dip.

Order intake for 9M 2023 improved by 18.1% year on year to S$692.6 million, bringing CSE Global’s order book to S$638 million as of 30 September 2023, up 54.6% year on year.

Just this week, CSE Global announced that it secured two major contracts in the US worth US$20.8 million.

Attention: Investors aiming for both growth and peace of mind. We’ve pinpointed 5 SGX stocks known for consistent dividends. If you want to build a retirement portfolio, but don’t want the stress of stock watching, this report is for you. Click HERE to download now.

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Disclosure: Royston Yang owns shares of Delfi Limited and iFAST Corporation.

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