Singapore Stock Market News

Ausgroup - Wandering The Deep Dark Woods

StockFanatic
Publish date: Tue, 01 Sep 2015, 02:45 PM
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AusGroup reported a breakeven 4QFY15, though core PATMI was a AUD6.2m loss after stripping out AUD22m of R&D tax credits and AUD15.5m of total impairments. With both its focus industries - oil & gas and resources - in the doldrums, the company is far from being out of the woods. Maintain NEUTRAL with a lower SGD0.11 TP (from SGD0.25, 4.3% downside) based on a 0.33x P/B (equivalent to 0.55x P/NTA).
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