Singapore Stock Market News

Yoma Strategic Holdings -

StockFanatic
Publish date: Fri, 17 Jan 2014, 01:02 PM
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Yoma's 9MFY3/14 revenue and operating profit were generally in line with our expectation. However, 9M14 core PATMI achieved 106% of our full-year forecast due to lower-than-expected tax expense. We revise up our FY14 EPS estimate by 14.8% from 0.83 Scts to 0.95 Scts due to lower tax expense, but maintain the FY15-16 earnings forecast.

The upward adjustment of FY14 EPS has minimum impact on our FY15 RNAV. Our target price stays at S$0.75 (based on 1x FY15 RNAV). Maintain the Reduce recommendation.
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