Singapore Stock Market News

SingTel - A flat tone

StockFanatic
Publish date: Thu, 13 Feb 2014, 12:25 PM
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SingTel's 9MFY14 core net profit met both CIMB and consensus estimates at 98% and 97% of the respective annualised numbers. Its EBITDA and FCF performance was generally flat across the board, with a small lift in associate contributions driving its core net profit. Currency weakness − A$, Rs and Rp down 10-18% yoy − continued to plague the telco, with its core net profit inching up only 3% yoy.

We maintain our EPS, Hold recommendation and SOP-based target price pending its results conference call later this morning. While regional currencies remain our key concern for SingTel, they appear to have stabilised.
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