Singapore Stock Market News
SMRT - Sustained losses at fare business
StockFanatic
Publish date: Wed, 29 Jan 2014, 10:15 AM
StockFanatic
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■ Disappointing quarter as expected, with net profit plunging 44% YoY to SGD14.2m.
■ Combined operating loss of SGD9.0m for its fare business. Impending fare hike unlikely to be sufficient to offset losses.
■ Structural headwinds from DTL cannibalisation yet to be priced in by the market. Maintain SELL with TP of SGD0.60.
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