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PEC Ltd: Results surpassed expectation

PEC’s S$9.2m net profit in 2Q10 (FYE Jun) was better than expected.30.4 Scts net cash per share as of end 2Q10 equals 43% of current share price.Possible upside surprises from: 1) sustained high profit margins, and 2) >S$50m orders in Feb-Jun 20Raises target price to S$1.06, on improved earnings outlook. MaintainBetter than expected profit in ...

 

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