BreadTalk: Helped by gain from divestment
- 1Q16 largely helped by an $8.5m gain from the sale of 112 Katong, while core profitability remained weak.
- Stripping out the $8.5m gain, the bottomline would have conceivably been a loss.
- OCBC keeps SELL and TP of $0.96 unchanged.
- Interim special dividend of 1.35 S-cents/share or S$3.8m has been announced, representing ~45% of the divestment gain from 112 Katong.
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