Many companies are facing tough challenges this earnings season due to soaring interest rates and persistently high inflation. However, some companies have stood out from the crowd, not only increasing revenue and net profit, but also increasing dividends.

StarHub (SGX: CC3)

StarHub is one of the three largest telecommunications companies in Singapore, providing mobile, broadband and pay TV services, as well as cybersecurity and information and communications technology services to enterprises.

In the first half of 2024, StarHub's total revenue increased by 1% year-on-year to S$1.1 billion after the divestiture of D'Crypt; service revenue increased by 2.4% year-on-year to S$939.2 million, mainly benefiting from the contribution of StarHub's enterprise division; and net profit increased by 8.7% year-on-year to S$83.3 million.

In addition, the company generated free cash flow of S$101.6 million and declared an interim dividend of S$0.03, compared with S$0.025 last year.

StarHub's strategic focus is to advance its DARE+ program and reaffirmed its dividend guidance of "at least S$0.06" in 2024. The company plans to focus on developing new growth platforms from 2025 and continue its share buyback program.

ComfortDelGro (SGX: C52)

ComfortDelGro (CDG) is a multimodal transport operator with bus, rail, taxi and private hire services in 12 countries including Singapore, China, Ireland and France.

CDG announced its financial results for the first half of 2024, with revenue increasing 13.7% year-on-year to S$2.1 billion; operating profit increased 19.9% ​​year-on-year to S$140.5 million; net profit increased 21.4% year-on-year to S$95.3 million, which is the fifth consecutive quarter of year-on-year growth in net profit for CDG.

The company also generated S$66.1 million in free cash flow, up nearly 47% year-on-year, and declared an interim dividend of S$0.0352, up 21.4% year-on-year.

CDG expects rail revenue to remain stable in Singapore, but bus revenue to decline from September this year, but expects higher margins from the renewal of the London Bus contract and the launch of four bus franchises in Greater Manchester in January 2025 to make up for it.

Genting Singapore (SGX: G13)

Genting Singapore is the owner and operator of the integrated resort (IR) of Resorts World Sentosa (RWS) in Singapore.

The company reported strong financial results for the first half of 2024, with revenue up 25% year-on-year to S$1.36 billion; operating profit up 29% year-on-year to S$450.9 million; and net profit up 29% year-on-year to S$356.9 million. The company also generated S$261.2 million in free cash flow, up 18.3% year-on-year, and declared an interim dividend of S$0.02, up 33% year-on-year.

Genting Singapore management plans to continue to update RWS's facilities and will launch four IP collaboration projects in the second half of 2024, including Minions 4 at Universal Studios, Genshin Impact at S.E.A. Aquarium, Netflix Sweet Home at Halloween Horror Nights, and the immersive Harry Potter and the Illusion exhibition.

Meanwhile, the first phase of RWS 2.0, including the renovation of Singapore Oceanarium and the Central Living Corridor, is expected to soft-open in early 2025. Construction of two new luxury hotels will begin in the fourth quarter of this year, adding to the future new attractions and hospitality offerings.

Centurion Corporation Ltd (SGX: OU8)

Centurion owns, develops and manages purpose-built accommodation assets. As of June 30, 2024, the company has 32 operating accommodation assets with a total of 66,495 beds.

Revenue increased 27% year-on-year to S$124.4 million in the first half of 2024, benefiting from high occupancy rates and rental recovery in Singapore, the UK and Australia; net profit more than tripled year-on-year to S$118.2 million, but included a fair value gain of S$61.6 million.

Excluding these gains, Centurion's core net profit increased 48% year-on-year to S$48.5 million. The company also generated S$50.6 million in free cash flow and declared an interim dividend of S$0.015, up 50% year-on-year.

The company plans to develop a new worker accommodation asset in Singapore by December 2024, adding about 1,650 beds, and conduct an asset enhancement initiative (AEI) in Malaysia, adding 920 beds, with a further 2,690 beds expected by 2025.