Singapore Stock Market News
Sarine Tech - More to come
StockFanatic
Publish date: Thu, 27 Feb 2014, 05:18 PM
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Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
Sarine's FY13 core net profit was in line with expectations, at 102% of our forecast and 95% of consensus. Sarine posted record-high sales and profitability in FY13. The double-digit increase in operating expenses was more than offset by the 3.5% pt expansion in gross margin.
We introduce our FY16 forecasts and maintain our Add recommendation, with target price of S$2.64 (16x FYP/E, 0.5 s.d. above its 6-year average). Core EPS falls by 3-4% in FY14-15 as we factor in higher R&D and marketing expenses. Catalysts are various new product launches.
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