Sime Darby Property’s (SDPR) 4QFY19 net profit came in stronger than expected at RM103.0m (NM YoY, >100% QoQ) due to better margins achieved and higher property billings. For FY19, the Group reported a net profit of RM598.5m which was above our and consensus estimates, constituting c.108% and c.125% of our and consensus full year numbers respectively. We adjust our FY20/21 net profit upwards by 8.2%/16.5% after revising our margin and billing assumptions. Property sales achieved were RM3.1bn. Maintain our Outperform recommendation and RM1.30 TP, pegged at c.60% discount to our RNAV estimates given the prolonged headwinds facing the sector currently.
Source: PublicInvest Research - 27 Feb 2020
Chart | Stock Name | Last | Change | Volume |
---|
2024-08-16
SIMEPROP2024-08-16
SIMEPROP2024-08-16
SIMEPROP2024-08-16
SIMEPROP2024-08-16
SIMEPROP2024-08-16
SIMEPROP2024-08-15
SIMEPROP2024-08-15
SIMEPROP2024-08-15
SIMEPROP2024-08-15
SIMEPROP2024-08-14
SIMEPROP2024-08-14
SIMEPROP2024-08-14
SIMEPROP2024-08-13
SIMEPROP2024-08-13
SIMEPROP2024-08-13
SIMEPROP2024-08-12
SIMEPROP2024-08-12
SIMEPROP2024-08-12
SIMEPROP2024-08-12
SIMEPROP2024-08-12
SIMEPROP2024-08-12
SIMEPROP2024-08-09
SIMEPROP2024-08-09
SIMEPROP2024-08-09
SIMEPROP2024-08-09
SIMEPROP2024-08-09
SIMEPROP2024-08-09
SIMEPROP2024-08-09
SIMEPROP2024-08-08
SIMEPROP2024-08-08
SIMEPROP2024-08-08
SIMEPROP2024-08-08
SIMEPROP2024-08-08
SIMEPROP2024-08-08
SIMEPROP2024-08-08
SIMEPROP2024-08-07
SIMEPROP2024-08-07
SIMEPROP2024-08-07
SIMEPROP2024-08-07
SIMEPROP2024-08-07
SIMEPROP2024-08-07
SIMEPROP2024-08-07
SIMEPROP2024-08-07
SIMEPROP2024-08-06
SIMEPROP2024-08-06
SIMEPROP2024-08-06
SIMEPROPCreated by PublicInvest | Aug 12, 2024
RainT
READ
2020-05-04 11:35