Singapore Stock Market News

BreadTalk Group - Eye on China

StockFanatic
Publish date: Thu, 13 Mar 2014, 10:53 AM
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BreadTalk to focus on China as it continues on its strong growth trajectory after ending FY13 with revenue/net profit (+20%/+13% YoY) at record highs. Reiterate BUY.

■ Management targets to double revenue to SGD1b by FY16E (+23.1% CAGR). Increasing the margins is the priority.

■ The stock remains undervalued. Our SOTP approach to cross-check the replacement value of the firm yields a conservative figure of SGD1.50 per share.
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