Singapore Stock Market News

Triyards Holdings - Orders just keep coming

StockFanatic
Publish date: Wed, 08 Jul 2015, 12:11 PM
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Results below expectations
Triyards' 3QFY15 results came in below our expectations. 9M15 core net profit made up 56% of our net profit estimates for FY8/15. The lower than expected net profit was due to lower revenue recognition and higher operating expenses. Thus we lower our FY15-17F forecasts by 13-18% and roll over our valuation from FY15 to FY16, still pegged at 6x P/E. As a result, our TP is adjusted lower to S$0.55.
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