Wednesday, March 2, 2011

Pan-United Corporation rated 'buy' by DBS

Stock Name: PanUnited
Company Name: PAN-UNITED CORPORATION LTD
Research House: DBS Vickers

DBS Vickers Securities in a Mar 1 research report says: "4Q10 net profit climbed 53% q-o-q to $6.1 million on strong margin recovery of 5.4ppt to 18.2% and revenue growth of 9%. FY2010 net profit was $20.3 million, well in line with our estimate of $20.0 million. Margin expansion was largely attributable to higher ASP for ready-mixed concrete (RMC).

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