Singapore Stock Market News
GuocoLeisure - Encouraging hotel performance
StockFanatic
Publish date: Mon, 19 Oct 2015, 08:59 AM
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■ 1QFY16 headline net profit rose 89.2% yoy on the back of strong hotel operations and a one-off gain. Excluding one-offs, 1QFY6 core net profit increased 24.6% yoy.
■ Hotel core operating profit expanded by 14% yoy in 1Q on 11% RevPar growth.
■ There were reduced losses from the non-core property development and gaming businesses, which management plans to dispose of in future
■ We roll over to end-CY16 and raise our target price to S$1.26. Reiterate Add.
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