Singapore Stock Market News

Ausgroup - Headlights In The Tunnel

StockFanatic
Publish date: Thu, 29 Aug 2013, 01:43 PM
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AUSG's FY13 results came in 9% below expectations while no dividend was declared. Its balance sheet swung to a 10% net debt position as the Karara Mining (KML) issue took a toll on cash. As it is now receiving payments from KML, the group may pay an interim dividend in FY14.

However, the gloomy order outlook prompts us to reduce our TP to SGD0.30 as we continue to expect a number of weak quarters ahead.
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