Home » , , » OIR BITES: Genting down 7.2%; issues profit guidance‏

OIR BITES: Genting down 7.2%; issues profit guidance‏

Shared By Stock Fanatic on Wednesday, August 5, 2015 | 5.8.15

Genting Singapore’s (GS) share price tumbled 7.2% this morning to S$0.835 (just off early S$0.80 low), after issuing a profit guidance last night.

In it, GS warned that it expects to see significantly lower NPAT for 2Q15, mainly due to fair value loss on derivative financial instruments (as a result of unfavourable market conditions) and also unrealized forex translation losses.

But GS believes that its adjusted EBITDA for the quarter should be comparable to 1Q15.

Recall that it posted an Adjusted EBITDA of S$228.1m in 1Q15, with a margin of 35.8%.

Note that GS is still in the process of finalizing its 2Q15 accounts and guidance is based on preliminary assessment by the board.

If the decline is due to non-cash, non-recurring losses, we do not believe that it should affect its core earnings much.

Technical Analysis
Daily Chart
We currently have a HOLD rating on the stock with a DCF-based fair value of S$0.95.

Source : OCBC Investment Research

Posted on Wednesday, August 5, 2015 | 5.8.15
With No comments

Join Me On: Facebook | Twitter | Google Plus ::: Thank you for visiting ! :::
Some of the photos shown in this blog are randomly sourced from the Public Domain. If there is an infringement in the copyright of the photos; kindly inform us and it will be removed immediately. Thank you for your kind understanding.
Share this article :

Post a Comment

Modified by : Stockfanatic
Copyright © 2008 - 2018. Singapore Stock Market News - All Rights Reserved
Template Created by Creating Website Published by Mas Template
Proudly powered by Blogger
Related Posts with Thumbnails