One great way to spot potential investments is to look at stocks that have been performing well lately. When a company's stock price is climbing, it often means the business is doing something right, and investors are noticing. As the saying goes – if the business does well, the share price will naturally follow.
Here are three Singapore stocks that have climbed 35% or higher so far this year. These companies might be worth adding to your buy watchlist.
1. Riverstone Holdings (SGX: AP4)
Riverstone Holdings makes cleanroom gloves used in high-tech environments and premium nitrile gloves for the healthcare industry. They have six factories in Malaysia, Thailand, and China, pumping out 10.5 billion gloves a year.
Riverstone's share price has jumped 59.3% this year, reaching a 52-week high of S$0.96. In the first quarter of 2024, their revenue rose by 4.8% to RM 249.5 million, thanks to the growing demand for cleanroom gloves. Their gross profit soared 57.3% to RM 97.5 million, and net profit climbed 54.5% to RM 72.2 million. They also generated RM 44.8 million in free cash flow, up 19% from last year. Plus, they declared an interim dividend of RM 0.04.
CEO Wong Teek Son is optimistic about the future, especially with the recovery in the semiconductor and consumer electronics industries driving orders for gloves. Riverstone is also building new production lines to meet the long-term demand for cleanroom gloves.
2. Centurion Corporation (SGX: OU8)
Centurion Corporation specializes in workers’ accommodation in Singapore and Malaysia and student accommodation in Australia, the UK, and the US. They own and manage 34 properties with around 67,347 beds.
Centurion’s share price has risen by 36.6% this year, closing at S$0.56, near its 52-week high of S$0.58. In the first quarter of 2024, their revenue jumped 30% to S$61.1 million. Revenue from workers’ accommodation rose by 31% to S$46.2 million, and student accommodation revenue increased by 25% to S$14.7 million.
Centurion is redeveloping two dormitories in Singapore, which will add around 5,460 beds by 2026. In Malaysia, they're enhancing an asset to add 920 beds by the end of 2024. They also leased a building in Hong Kong to create an accommodation with 89 beds for students, with the lease set for five years and an option to renew for two more years.
3. Grand Banks Yachts (SGX: G50)
Grand Banks Yachts (GBY) is a luxury yacht manufacturer known for its Grand Banks, Eastbay, and Palm Beach brands. They have a manufacturing yard in Johor, Malaysia, and service yards in Florida and New South Wales, Australia.
GBY’s share price has climbed 46.7% this year, reaching a 52-week high of S$0.44. For the first nine months of fiscal 2024, their revenue jumped by 20% to S$94.2 million, driven by increased boat-building activity. Their gross margin expanded to 38%, boosting gross profit by 62.3% to S$35.8 million. Net profit nearly doubled to S$10.9 million, the highest in over a decade.
GBY is expanding its manufacturing yard in Johor, which will add 25% more usable space. This will allow them to build larger, more energy-efficient yacht models.
Takeaway
Investing in stocks can be like shopping for the best deals – you want to find companies that are performing well and have a bright future. Riverstone Holdings, Centurion Corporation, and Grand Banks Yachts have shown impressive growth this year and could be worth adding to your watchlist. Keep an eye on these companies as they continue to innovate and expand.
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