Singapore Stock Market News

Frencken Group - A Turnaround Year

StockFanatic
Publish date: Sat, 01 Mar 2014, 09:37 PM
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Frencken's 4Q13 results were within expectations, with a SGD3.8m profit (versus a SGD10.8m 4Q12 loss) on the back of higher revenue of SGD109.4m (+14.8% y-o-y). Both the IMS and mechatronics divisions remained healthy while the industry outlook continues to stay positive. The strengthening USD and EUR should benefit Frencken.

Maintain BUY, with our TP unchanged at SGD0.45, based on a 9x FY14F P/E.
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