Singapore Stock Market News
Neo Group - Affected By Seasonality
StockFanatic
Publish date: Wed, 12 Aug 2015, 12:16 PM
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Despite a strong 62% growth in 1QFY16 revenue, Neo Group reported a loss of SGD0.5m after accounting for exceptional items. Maintain BUY and SGD1.20 TP (49% upside, 20x FY16F P/E). We highlight that the first quarter is traditionally the weakest quarter due to a lack of festivities to drive large orders. We expect Neo Group to show improved profitability as revenue expands further from 2QFY16 onwards.
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