Shangri-La Asia (69 HK): Higher FY18 PATMI Despite Headwinds in 2H18

Date: 21/03/2019

Source  :  OCBC
Stock  :  Shangri-La HKD       Price Target  :  16.40      |      Price Call  :  BUY
        Last Price  :  9.85      |      Upside/Downside  :  +6.55 (66.50%)

Shangri-La Asia (69 HK) reported a 15% revenue growth to USD2.5b in FY18, bringing full year PATMI to USD192.9m which is a 22.1% increase compared to FY17. The gains in revenue were primarily driven by the carry-over impact of opening of new hotels, improvement in hotel performances after major renovation of ShangriLa Hotel, Singapore and favourable foreign exchange rates.

The weighted average occupancy was 68% in FY18, compared with 67% in FY17. RevPAR increased 6% YoY to USD115.

With the interim dividend of 8 HK cents per share paid in October 2018, the company has declared a total dividend of 22 HK cents per share in FY18, higher than that of 17 HK cents in FY17.

We currently have a BUY rating with a FV estimate of HK$16.40.

Source: OCBC Research - 21 Mar 2019

Share this

Related Stocks

Chart Stock Name Last Change Volume 
Shangri-La HKD 9.85 0.00 (0.00%)

  Be the first to like this.



Top 10 Active Counters
 Powermatic Data 1.780.00 
 NX09100W 190601 90.000.00 
 NY09100H 240901 109.9520.00 
 Tai Sin Electric 0.3250.00 
 3Cnergy 0.0060.00 
 KLW 0.0030.00 
 AsiaMedic 0.0190.00 
 Fuji Offset 0.250.00 
 Hiap Seng^ 0.0510.00 
 DEKW 0.440.00 
Partners & Brokers