UOL Group - Mixed performance | I3investor

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UOL Group - Mixed performance

StockFanatic

Publish date: Thu, 12 Nov 2015, 12:44 PM

■ 3Q15's net profit largely in line, making up 23% of our FY15 estimate, dragged down somewhat by slower hotel contributions and also from high base in 2014.

■ Singapore residential to remain the main earnings driver on progressive billings from locked-in presales, while rental income boosted by One KM contributions.

■ Maintain Add, with an unchanged target price of S$8.24, based on a 20% discount to RNAV.

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