Chart of the Day: Singapore’s consumer firms suffer low profits amid lack of innovation
The next quarter will still disappoint.
Almost all results are in, and Singapore’s over-all first-quarter report card is looking largely disappointed.
According to a report by Maybank Kim Eng, weakness was seen in the commodity and consumer spaces. Of the 63 results released thus far, 43% missed.
Even after two quarters of earnings cuts, the oil & gas sector continued to under-deliver.
Maybanks says that consumer companies reeled from softer markets and a lack of new products. This may continue in 2Q15 before a gradual recovery in 2H15.