CIMB is maintaining its "add" on Frasers Centrepoint Limited with higher target price of $2.04 on a better fourth quarter as China and Australia residential sales improve on increased handovers.
In 3Q16, FCL's revenue declined 33% to $682 million from a year ago while EBIT fell 47% to $166.8 million on lumpy China residential and smaller Singapore development profits due to a high base in 3Q15.
China residential EBIT came in at $9 million vs $38 million previously on lumpy profit recognition and a one-time $38 million profit from sale of Crosspoint.
More Update like - Equity Investment Picks , Positional Stock Signals & Equity Trading Signals . . .
In 3Q16, FCL's revenue declined 33% to $682 million from a year ago while EBIT fell 47% to $166.8 million on lumpy China residential and smaller Singapore development profits due to a high base in 3Q15.
China residential EBIT came in at $9 million vs $38 million previously on lumpy profit recognition and a one-time $38 million profit from sale of Crosspoint.
More Update like - Equity Investment Picks , Positional Stock Signals & Equity Trading Signals . . .
Stocks Market Update : A better fourth quarter for Frasers Centrepoint .
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