Singapore Stock Market News
Mermaid Maritime - Engage warp speed
StockFanatic
Publish date: Mon, 20 May 2013, 11:37 AM
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1H core loss of THB104m was broadly
in line with our estimate. We expect a
seasonally much stronger 2H (for
example, 2H12 net profit formed 2.4x
of the full-year). We trim our FY13-15
EPS by 1-3% as we adjust our margins
slightly, but maintain our Outperform
call and target price, still at 0.8x CY13
P/BV (5-year mean). Catalysts could
come from stronger subsea results,
contracts and clarity on its tender rigs
investments.
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