Viz Branz

Viz Branz: Reported an impressive set of 1H12 results: Rev at $91.2m, +10.1% YoY to $91.2m while its bottom line climbed 28.1% to $9.8m. Its key market - China, which contributed 54.7% of overall rev, was the main driver behind this stellar growth.

Mgt also declared an interim dividend per share of 1c per share, bringing the total interim div declared so far to 1.3c (0.8c previously). Expect VB’s strong performance to continue into 2H12 as China maintains its spot as VB’s key target market. Furthermore, management has successfully demonstrated its ability in controlling costs effectively despite fluctuating raw material prices. OCBC maintains HOLD but with a higher fair value estimate of $0.37 ($0.33 previously)