UOL Group - 1QFY14 PATMI rose 69% yoy

UOL Group – 1QFY14 PATMI rose 69% yoy

Analyst consensus>UOL – AC

Strong recurring earnings.UOL’s 1QFY14 PATMI rose 69% yoy, mainly due to a land sale in KL. Excluding this, core net profit was down 14% yoy, broadly in line at 19% our FY14 estimate. While the hotel and investment property segment showed healthy growth, it was not enough to offset the fall in development earnings. We continue to like UOL for its recurring income and…

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Wing Tai - Weak residential sales

Wing Tai – Weak residential sales

Analyst consensus>Wing Tai – AC

Weak residential sales.Wingtai reported 3QFY14 core net profit of S$39m, down 59% yoy and 20% qoq. This was slightly below our expectations, with 3Q/9M forming 20%/59% of our full-year forecast, as weak residential sales continue to be a drag on earnings. While mass market projects Tembusu and Foresque Residences should help to underpin its development earnings in…

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