Search result for: "net profit"

Adhi Karya, Tbk (ADHI IJ, Neutral, TP: IDR2,720) has booked IDR6.3Trn of new contracts in 11M14 that consist of building projects (59.4%), roads & bridges (21.1%), and other infrastructure projects. Most of its projects were still dominated by private projects (43.1%), while the Government portion was at 42.2%, and SOE portion was 14.5%. ADHI’s management.

PGAS’ 2Q14 core profit of USD201m (+11.3% q-o-q, 23.5% y-o-y) brought 1H14 core profit to USD381m (+2.6% y-o-y), making up 49% of our FY14 estimate of USD786m (+5.4% y-o-y). Higher contribution from its E&P segment led to a higher margin mix in 2Q14, resulting in a 21.4% q-o-q growth in 2Q14 operating profit and a.

2Q14 core profit reached USD201m (+11.3% q-o-q, 23.5% y-o-y), bringing 1H14 core profit to USD381m (+2.6% y-o-y), contributing 49% to our FY14 core profit estimate of USD786m (+5.4% y-o-y). PGAS’ riskier profile from higher contribution from its E&P business segment contributes higher margin mix, bringing 2Q14 operating profit hiked 21.4% q-o-q with higher 33% blended.

PGN’s 1Q14 earnings reached USD177m (-19.3% q-o-q), ie 20% of our and consensus FY14 target. This was dragged mainly by higher than expected 1Q14 revenue cost (+17.8% q-o-q). We cut 2014 and 2015 earnings by 7% and 1% respectively, but maintain the DCF-based IDR6,000 TP and BUY call as we increase our long-term growth rate.

We are keeping MAIN as our Top Pick in the poultry sector for the following reasons: i) the company’s above-industry growth prospects, ii) strong profitability, and iii) potential improvement in gearing. Maintain BUY and IDR4,000 TP, pegged to a 15.2x FY14 P/E. The counter is currently trading at a 12.1x FY14 P/E. Above-industry growth prospects.

While we are still cautious on Indonesia’s short-term equity market outlook owing to economic and political uncertainties, we are of the view that its long-term fundamentals are intact. We foresee 2014 GDP growth dipping to 5.4% while Bank Indonesia (BI) may have to raise the BI rate to 7.75-8.25%. As short-term macroeconomic fundamentals are weak,.

The Indonesian telco sector is a NEUTRAL for 2014 given the combination of (i) macro-economic/political headwinds, (ii) earnings pressure from higher data opex/decelerating revenue growth & (iii) sustained capex spending. We like the ITC (OVERWEIGHT) due to their stronger earnings prospects. A stock-picking strategy to identify companies with discernible price catalysts and a good track.

Bank Permata’s key strengths are its two main shareholders, Standard Chartered Bank (SCB) and Astra International, Tbk (ASII IJ). Both have a joint ownership of 89.12% in Bank Permata, Tbk (BNLI IJ). SCB is a British multinational bank operating in over 70 countries and has a credit rating of A+ by S&P. Whereas, Astra is.

Company Profile Founded in 1976, Selamat Sempurna (SMSM) is a part of ADR Group and currently one of the largest filter and radiator manufacturers in the region. The Company manufactures filters, radiators, oil coolers, condensers, brake pipes, fuel pipes, fuel tanks, exhaust systems, and press parts for passenger vehicles and heavy equipment. Highlights A dividend.

Company Profile Malindo Feedmill (MAIN) is a poultry company that mainly produces chicken feed, day-old chicks and chicken meat. The company was established in 1997. The Lau Family, who controls Malaysia’s largest poultry player Leong Hup Group, became MAIN’s major shareholder in 2000. The Leong Hup Group includes Leong Hup Holdings and Emivest (EMIV MK;.