Riverstone: (S$0.95) 1Q16 profit hardens as growth tempered by USD and input costs
- 1Q16 net profit of RM27.7m (+0.6% y/y) on revenue of RM148.1m (+16.5%)
- Crimped by net FX loss of RM2m
- Phase 3 expansion to add 16% capacity, to be completed by end of the year
- Cautious on commodity prices as well as USD fluctuations
- Currently trading at 14.6x forward P/E and 4.1x P/B Vs peer average of 15.4x forward P/E and 3x P/B
- 5 Buy and 1 Hold from the street, TP: $1.19.
Read more: https://goo.gl/yMNnx3
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