Singapore Stock Market News

XMH Holdings - Turnaround In Sight

StockFanatic
Publish date: Wed, 01 Jul 2015, 02:36 PM
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XMH recorded c.SGD7.5m in core PATMI for FY15 (-33% YoY) as slow operations in Indonesia were offset by contributions from MPG (fullyear) and Z-Power (two months). Maintain BUY, with lower SGD0.25 TP (25% upside). A turnaround is in sight, with Indonesian sales having troughed and business in Vietnam powering up. Z-Power's full-year high-margin contributions in FY16F would also help to sustain a dividend rebound.
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