Boustead Projects - Recovering From COVID-19 Depths
BOUSTEAD PROJECTS LIMITED (SGX:AVM)
- Boustead Project (SGX:AVM)'s 1HFY22 (Apr 2021 to Sep 2021) net profit of S$5.9m above expectations, thanks to a more normalised revenue recognition due to resumption of construction activities.
- Operating environment remains challenging in 2H22F due to elevated costs; margins should improve in FY23F as pre-pandemic contracts are fulfilled.
- Boustead Project has a strong war chest to chart its next leg of growth by expanding its presence in Vietnam. Reiterate ADD call on Boustead Project and target price of S$1.40.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
ONG Khang Chuen CFA CGS-CIMB Research | https://www.cgs-cimb.com 2021-11-15
SGX Stock
Analyst Report
1.400
SAME
1.400
Previous report by CGS-CIMB:
2021-06-02 Boustead Projects - Stepping Up Presence In Vietnam
Relevant links:
Boustead Project Analyst Report,
Boustead Project Target Price,
Boustead Project Share Price History,
Boustead Project Announcements,
Boustead Project Dividends/ Corp Actions,
Boustead Project News Articles