Highlights

SGX Stocks and Warrants

Author: kimeng   |   Latest post: Mon, 24 Jul 2017, 10:12 AM

 

Tat Hong Holdings: Mixed performance for 3QFY17

Author:   |    Publish date:


Tat Hong Holdings released its 3QFY17 results yesterday evening. Revenue was down 3% YoY to S$121.5m while the group recorded a small positive PATMI of S$0.2m, vs. a net loss of S$6.7m in 3QFY16. 9MFY17 revenue was down 13% to S$348m with a net loss of S$8.8m.

This quarter, most business segments (Tower Crane Rental, Distribution and General Equipment Rental divisions) saw better revenues. Tower Crane Rental business has secured a good pipeline of potential projects in China.

On the other hand, Crane Rental division’s revenue was down 35% due to weak demand in main markets, Singapore and Australia.

Notably, the bottomline was helped by a gain of S$5.2m from a property disposal in Australia, as well as a disbursement of S$6.5m with respect to guaranteed trade receivables. But there was a non-cash impairment charge of S$1.2m, and management expects full year FY17 to be negatively impacted by impairments and on-going restructuring costs.

Across its business divisions, tower crane rental business remains the key growth area. We maintain our HOLD and S$0.40 fair value estimate.

Source: OCBC Research - 15 Feb 2017

Share this
Labels: Tat Hong

Related Stocks

Chart Stock Name Last Change Volume 
Tat Hong 0.37 -0.01 (2.63%) 437,000 

  Be the first to like this.
 


 

134  161  208  591 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 Advanced Systems 0.0010.00 
 Rowsley 0.169-0.005 
 Swee Hong^ 0.022+0.004 
 DISA 0.015+0.001 
 SinoCloud 0.003+0.001 
 Sincap 0.048+0.005 
 MMP Resources^ 0.008+0.001 
 China Med Intl 0.007+0.001 
 Noble 0.210.00 
 MagnusEnergy 0.0010.00 

TOP ARTICLES

1. Oil & Gas, Show Me the Orders! The Boring Investor
2. Running Your Own Finances Like How Companies Are Run A Path to Forever Financial Freedom
3. Cache Logistics Trust: Rich Valuations Given Challenges SGX Stocks and Warrants
4. Marty Schwartz's Quote on Saving Money & Go On to Next Trade Collin Seow Remisier Blog
5. CapitaLand Mall Trust: Firm Cap Rate Compression SGX Stocks and Warrants
Partners & Brokers