SapuraKencana Petroleum (Results Review): 9MFY13: Within our but below market's

Date: 
2012-12-11
Firm: 
ECMLIBRA
Stock: 
SAPNRG
Price Target: 
2.46
Price Call: 
HOLD
Last Price: 
0.045
Upside/Downside: 
+2.415 (5366.67%)
(Maintain HOLD, TP: RM2.46)

9M FYE Jan 2013 reported PATAMI of RM400m which rose 71% y-o-y came in within our expectation or 75% of our full-year net profit forecast. However 9MFY13 net profit only accounts for 69% of market's estimates. Excluding forex loss (RM49m) and one-off reserves arising from additional investment in a subsidiary (RM42m), PATAMI came in at RM407m which is also within our expectation. Y-o-y comparisons are pointless because 9MY13 earnings consolidated KPB results which was absent in the previous year. Maintain Hold with a target price of RM2.46 based on 20x CY13 EPS of 12.3sen. (refer to report for details)

Discussions
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necro

This ECMLIBRA broker must be kena pecat already!...

2013-06-09 23:32

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