Stock Name: SingPost
Company Name: SINGAPORE POST LIMITED
OCBC Investment Research in an Apr 30 research report says: "SingPost reported a 2.2% rise in revenue to $578.5 million but saw an 11.8% fall in net profit to $142.0 million in FY2012, accounting for 101% and 95% of our full-year estimates, respectively.
"Administrative and other expenses, which increased 12.5% y-o-y and 4.2% q-o-q in 4QFY12, were slightly higher than expected. Besides acquiring stakes in companies to grow its businesses, SingPost invested $9.7 million in the upgrading of talent, IT systems and processes in FY2012.
"SingPost has declared a final dividend of 2.5 cents per share, bringing the total dividend for the year to 6.25 cents. The stock price has risen by about 9.0% since we upgraded it from hold on Jan 5, but we still see an upside potential of 17.3% (inclusive of a forecasted dividend yield of 6.1%) based on our DDM-derived fair value estimate of $1.14. MAINTAIN BUY."
Company Name: SINGAPORE POST LIMITED
| Research House: OCBC | Price Call: BUY | Target Price: 1.14 |
OCBC Investment Research in an Apr 30 research report says: "SingPost reported a 2.2% rise in revenue to $578.5 million but saw an 11.8% fall in net profit to $142.0 million in FY2012, accounting for 101% and 95% of our full-year estimates, respectively.
"Administrative and other expenses, which increased 12.5% y-o-y and 4.2% q-o-q in 4QFY12, were slightly higher than expected. Besides acquiring stakes in companies to grow its businesses, SingPost invested $9.7 million in the upgrading of talent, IT systems and processes in FY2012.
"SingPost has declared a final dividend of 2.5 cents per share, bringing the total dividend for the year to 6.25 cents. The stock price has risen by about 9.0% since we upgraded it from hold on Jan 5, but we still see an upside potential of 17.3% (inclusive of a forecasted dividend yield of 6.1%) based on our DDM-derived fair value estimate of $1.14. MAINTAIN BUY."
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