Stock Name: CerebosPac
Company Name: CEREBOS PACIFIC LIMITED
CIMB in a Jan 31 research report says: "Cerebos delivered steady topline growth yet again (+4.4% y-o-y), driven by Health Supplements (+0.9% y-o-y) and Food & Coffee (+4.2% y-o-y).
"Operating profit increased 7% y-o-y because of a one-off gain from the disposal of land and building in Malaysia for about $13 million. Operating income would have been flat had we stripped out this gain due to higher A&P spending and raw-material costs. Management has declared a dividend of 25 cents, the 8th consecutive year it has done so.
"We believe Cerebos represents good value on a combination of resilient earnings translating into consistently high ROEs, a 3-year earnings CAGR of 22% and 4.8% dividend yields. No change to our sum-of-the-price target price of $6.65. MAINTAIN OUTPERFORM."
Company Name: CEREBOS PACIFIC LIMITED
| Research House: CIMB | Price Call: BUY | Target Price: 6.65 |
CIMB in a Jan 31 research report says: "Cerebos delivered steady topline growth yet again (+4.4% y-o-y), driven by Health Supplements (+0.9% y-o-y) and Food & Coffee (+4.2% y-o-y).
"Operating profit increased 7% y-o-y because of a one-off gain from the disposal of land and building in Malaysia for about $13 million. Operating income would have been flat had we stripped out this gain due to higher A&P spending and raw-material costs. Management has declared a dividend of 25 cents, the 8th consecutive year it has done so.
"We believe Cerebos represents good value on a combination of resilient earnings translating into consistently high ROEs, a 3-year earnings CAGR of 22% and 4.8% dividend yields. No change to our sum-of-the-price target price of $6.65. MAINTAIN OUTPERFORM."
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