UOB Kay Hian Research Articles
Gamuda: 4QFY17 - Earnings In Line With Expectations
UOBKayHian
Publish date: Fri, 29 Sep 2017, 02:25 PM
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An official blog in I3investor to publish research reports provided by UOB Kay Hian research team.
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
(GAM MK/BUY/RM5.29/Target: RM6.00)
Gamuda’s 4QFY17 core net profit came in at RM201m, lifting its full-year earnings to RM700m, representing 100% of our estimate. Earnings were driven by the construction division with an outstanding construction orderbook standing at a healthy RM7.8b. Its property division is staging a mild comeback, driven by improving sales in Vietnam. Maintain BUY and target price of RM6.00, implying 17.9x FY19F PE.
Source: UOB Kay Hian Research - 29 Sept 2017
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