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3Q11 profit declined 60% y-o-y to RMB27m, despite 5% revenue growth to RMB259m Factoring in lower order wins and higher finance costs, we cut FY11/12F earnings by 34%/33% Expected pick-up …
3Q11 profit declined 60% y-o-y to RMB27m, despite 5% revenue growth to RMB259m Factoring in lower order wins and higher finance costs, we cut FY11/12F earnings by 34%/33% Expected pick-up …
3Q11 above on sustained solid execution, underpinning firm margins; FY11F raised 11% on strong numbers Trim FY11F order wins to NOK9.5bn on cloudy macro outlook which leads us to trim FY13F earnings by 5% Maintain BUY, TP S$1.54 How to Make Money in Stocks: A Winning System in Good Times and Bad Another solid quarter ...
3Q11 above on sustained solid execution, underpinning firm margins; FY11F raised 11% on strong numbers Trim FY11F order wins to NOK9.5bn on cloudy macro outlook which leads us to trim FY13F earnings by 5% Maintain BUY, TP S$1.54 How to Make Money in Stocks: A Winning System in Good Times and Bad Another solid quarter ...
1Q12 results slightly ahead of expectations Positive outlook on higher volumes and gross margins MINZ remains fundamentally resilient Reiterate Buy, TP raised to S$1.34 Slightly ahead of expectations. Revenue rose 37% yoy to S$361m, which was 13% above expectations due to higher volumes and selling prices. Earnings grew 78% to S$93m on better gross margins ...
1Q12 results slightly ahead of expectations Positive outlook on higher volumes and gross margins MINZ remains fundamentally resilient Reiterate Buy, TP raised to S$1.34 Slightly ahead of expectations. Revenue rose 37% yoy to S$361m, which was 13% above expectations due to higher volumes and selling prices. Earnings grew 78% to S$93m on better gross margins ...
Maiden set of results, amending earn out support Properties yet to stabilize, mall leasing activities on track Maintain Buy with TP $0.83 Maiden set of results. Perennial China Retail Trust reported its maiden set of results for 9 June-30 Sept 2011. It achieved distributable income of S$1.1m, which was below its prospectus forecast of cS$5m. ...
3Q11 slightly ahead of our optimistic forecast, 9M11 met 76% of FY11F Growth is underpinned by RMB2.4bn orderbook which covers 0.8x FY12F sales Reiterate Buy with 66% potential upside to our higher TP of S$0.90 3Q11 net profit more than doubled to RMB131.5m mainly due to the absence of dual listing expenses (~RMB52m) and better ...
Loss making quarter but surprise uptick in property sales Outlook muted with weak forward bookings for Thailand; FY11/12F earnings slashed 18%/55% Maintain HOLD, TP reduced to S$0.93 Loss making 3Q11 from weak hotel performance. 3Q11 topline of S$66.2m (-3% y-o-y) was marginally lower due to a decline in hotel investment revenue arising from the divestment ...
1QFY12 earnings of US$11.8m (+22% y-o-y) was in line with expectations and met 25% of our FY12F Softening demand as customers report destocking and slower volumes FY12-14F earnings fine-tuned by 1-8% on auto part contract win and depreciation adjustment TP maintained at S$1.35 but cut rating to Fully Valued on 17% potential downside 1QFY12 earnings ...
Results in line, as 4Q11 should catch up with stronger tourist arrivals and ramp-up in Western Zone Lost market leadership to MBS, raised provisions for receivables Cut FY12-13F earnings by 13-17%; Maintain Buy, TP cut to RM2.05 (from S$2.40) Results in line. 3Q11 adjusted EBITDA came in at S$375m (+8% q-o-q, +7% y-o-y), with 9M11 ...
3Q11 loss of US$17.5m brought 9M11 earnings to US$325.6m – well below forecast on annualized basis 25-49% yoy segment volume growths failed to offset margin erosion due to price volatility …
3Q11 results were in line with our estimates: 9M net profit accounted for 83% of our FY11 estimates Now a proven player a year after its IPO Revised down FY12F profit following cut in aluminium prices Retain BUY call and lower TP at S$0.65 3Q11 results in line with our estimates. Xinren Aluminum (XAH SP) ...
Excluding translational FX loss of US$1.4m, 3Q11 core profit of US $1.9m (+376% yoy, -44% qoq) was below our US$3-3.5m expectations Revenue grew 147% yoy to US$75.8m but margins were hit by higher costs FY11-13F earnings cut by 14-15%, TP cut to S$0.29 from S$0.37 Downgrade to Fully Valued from Hold Results below. Excluding translational ...
3Q11 below estimates, partly due to 11% y-o-y depreciation of USD/SGD Near term outlook is hazy but margins should hold up; dividends can be sustained FY11/12F earnings cut by 10%/17%; Maintain Hold on lower TP of S $6.30 with 8% yield to limit downside 3Q11 was 19% below expectations. Venture reported net profit of S$35.4m ...
1Q12 core earnings in line supported by corporate activities In view of decline in Gao Kao numbers, we trim FY12F earnings by 12.4% Successful monetising of land it owns in China will provide long term catalyst Maintain HOLD, TP lowered slightly to S$0.48 History of Raffles Institution 1Q12 supported by corporate activities. 1Q12 earnings came ...
3Q11 results above expectations Dragon Fund II on track to raise US$1bn by 1Q12; potential 1 new REIT of S$1bn to be launched Maintain BUY with revised TP of S$1.67 Investing in REITs: Rea …
Non-interest income was the main drag in 3Q11; loan growth was still strong while NIM narrowed further Our checklist highlighted a negative signal to UOB’s AFS reserves, which went below p …
3Q11 core net profit below our expectations High exposure to US and EU economies could limit growth potential in the near term; cut FY11/12F earnings by 2-5% Downgrade to HOLD with lower TP of S$3.05 The Little Book That Still Beats the Market Earnings propped up by one-off items. ST Engineering reported net profit of ...
3Q earnings below forecasts but Utilities surprises on the upside FY11/12F raised by10-11% as expect Utilities to power ahead Maintain Buy with higher TP of S$4.90 based on SOTP Utilities electrified 3Q performance. Net profit of S$222.4m (-9% y-o-y), was 10% below forecast due to weaker Marine (-9%). But, Utilities outperformed, gaining 33% y-o-y to ...
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