Stock Name: KingsmenC
Company Name: KINGSMEN CREATIVES LTD
DMG & Partners Research in an Aug 19 research report says: "Kingsmen achieved revenue of $57.1 million (-11.6% y-o-y) and PATMI of $4.5 million (-2.8% y-o-y) in 2Q11.
"The decline was largely attributed to the absence of major projects (in 2Q10, there weresome billings from the Shanghai World Expo and Universal Studios). This has however, led to gross margins improving to 29.5% (2Q10: 27.6%), as margins from work done for the events/shows were generally lower.
"Outlook remains healthy despite the global economic uncertainty as (1) large retail players are still coming to Asia and (2) the theme parks planned for the Asian region are progressing on track. Kingsmen declared dividends of 1.5 cents per share for 2Q11. Target price of 76 cents, pegged to 9x FY11F earnings. MAINTAIN BUY."
Company Name: KINGSMEN CREATIVES LTD
| Research House: DMG | Price Call: BUY | Target Price: 0.76 |
DMG & Partners Research in an Aug 19 research report says: "Kingsmen achieved revenue of $57.1 million (-11.6% y-o-y) and PATMI of $4.5 million (-2.8% y-o-y) in 2Q11.
"The decline was largely attributed to the absence of major projects (in 2Q10, there weresome billings from the Shanghai World Expo and Universal Studios). This has however, led to gross margins improving to 29.5% (2Q10: 27.6%), as margins from work done for the events/shows were generally lower.
"Outlook remains healthy despite the global economic uncertainty as (1) large retail players are still coming to Asia and (2) the theme parks planned for the Asian region are progressing on track. Kingsmen declared dividends of 1.5 cents per share for 2Q11. Target price of 76 cents, pegged to 9x FY11F earnings. MAINTAIN BUY."
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