Singapore Stock Market News
Frencken Group - Better Quarters Ahead
StockFanatic
Publish date: Fri, 09 May 2014, 10:38 AM
StockFanatic
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Despite being in its weakest quarter, Frencken still managed to deliver a decent 1Q14 with SGD3.8m (+20.6% y-o-y) profit, supported by rising revenue of SGD110.9m (+3.4% y-o-y). Going forward, its outlook is likely to stay positive as management guided that its performance will pick up in subsequent quarters.
Maintain BUY, with TP unchanged at SGD0.49, based on a 9.6x FY14F P/E (20% discount to peers' average P/E).
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