Highlights

SGX Stocks and Warrants

Author: kimeng   |   Latest post: Wed, 21 Aug 2019, 9:28 AM

 

Singapore Airlines: Results in Line

Author:   |    Publish date:


Singapore Airlines (SIA) reported a 3.3% YoY increase in revenue to S$16.3b and a 47.6% YoY fall in net profit to S$682.7m for FY19, dragged by higher fuel costs; the group had also recognised its share of losses (S$116m) arising from Virgin Australia’s non-cash accounting adjustments in prior quarters. Results were within expectations as full year net profit was just 2% higher than our full year forecast.

The group has declared a final dividend of S$0.22/share, bringing the full year dividend to S$0.30/share (vs. S$0.40/share a year ago), which was in line with our expectations. Going forward, growth in forward passenger bookings in the months ahead is tracking positively against capacity injection, with robust premium cabin demand. However, ongoing trade disputes and slowing economic growth in key markets pose uncertainties.

Pending an analyst briefing, we maintain our BUY rating but put our fair value estimate of S$11.02 under review.

Source: OCBC Research - 17 May 2019

Share this
Labels: SIA

Related Stocks

Chart Stock Name Last Change Volume 
SIA 8.89 -0.05 (0.56%) 1,000 

  Be the first to like this.
 


 

104  153  175  670 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 LionGold 0.0010.00 
 Rex Intl 0.083+0.007 
 YZJ Shipbldg SGD 0.915-0.015 
 ThaiBev 0.935+0.005 
 Mapletree NAC Tr 1.31-0.03 
 SingTel 3.25+0.01 
 TEE Intl 0.062-0.004 
 CapitaMall Trust 2.64+0.02 
 HPH Trust USD 0.167-0.01 
 SPH 2.04-0.09 
Partners & Brokers