Singapore Stock Market News

Mermaid Maritime - In a sweet spot

StockFanatic
Publish date: Tue, 17 Nov 2015, 02:35 PM
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■ With its subsea vessels gainfully employed in the Middle East, MMT's 3Q15 core net profit of US$15.9m was above our and consensus's expectations.

■ Targeting US$12m cost savings in 2016, which we have not fully taken into account.

■ Increase FY15 core EPS by 10% to factor the earnings beat. Expect qoq weaker results as seasonal demand comes down and conservatism creeps in.

■ 3Q15 represents MMT's best ever quarter. Good results underline our Add call.
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