NRA Capital Pte Ltd

Written by: NRA Research Team

Friday 23 May 2014

Mencast - 1Q14 results update

New facilities ready for better 2Q performance

Despite the lower-than-expected 1Q14 performance, our view remains positive given the 28% qoq increase in its order book to a record S$42.8m as at end 1Q14. Together with a pickup in business in subsequent quarters at its new 42B Penjuru Road facility, we believe these should help drive both its revenues and improve gross margins. We maintain our forecasts and fair value remains S$0.67, still pegged at 10x FY14 PER. Given the 11% potential upside, maintain Overweight.

Please login

Premium Content

Premium Content

This article requires a premium subscription. Click here to upgrade.

If you are not yet a registered member of NetResearch Asia, please click here to register before paying.

If you accessing this site though Lim&Tan's website and using Internet Explorer, please click here  to rectify access issues.

Access to this Web site is granted by NRA Capital Pte. Ltd. strictly on the terms and subject to the conditions set out hereunder. By entering into the Web Site, Subscriber is deemed to have accepted and agreed to be bound by the terms and conditions  set out hereunder.