Best World: (S$0.88) Blowout 1Q16 results; signal of an explosive 2016?
- Yet another set of impressive results in 1Q16, despite being traditionally the weakest quarter.
- Net profit spiked to $6m from a low base of $0.2m a year ago.
- Revenue 161% on continued growth momentum in Taiwan (+353%), Indonesia (+200%), and China (+242%).
- Final approval for its direct-selling licence in China remains on track.
- Fair value for Best World can range from $0.99 to $1.15 (12-14x).
- Remains a key constituent in the Market Insight Growth portfolio.
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