Singapore Stock Market News
Tiger Airways - A positive quarter, but...
StockFanatic
Publish date: Fri, 25 Jan 2013, 01:10 PM
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Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
Tiger's first profit in 18 months was boosted by an unexpectedly strong
showing from Tiger Singapore. Improving operating momentum and
a seasonally strong quarter narrowed Tiger Australia's losses.
However, huge associate losses marred an otherwise positive quarter.
3QFY13 profits exceeded expectations;
9MFY13 losses formed 100% of our
FY13 estimate. The beat would have
been stronger if not for associate
losses, which should continue, given
intrinsic and macro headwinds.
However, we expect losses in a
seasonally weaker 4Q and raise our
FY13 loss estimates. We also cut
FY14-15 core estimates, which lower
our SOP-based target price by 11% to
S$0.74. Maintain Neutral.
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