- Frencken (SGX:E28)'s 3Q22 revenue of S$195.3m (-0.6% y-o-y, +2.5% q-o-q) was 16.6% below our S$234.3m forecast. The miss was due to slower-than-expected recovery in its automotive business segment and the weaker Euro vs S$. See Frencken's Announcement dated 28 Nov 2022.
- - Read this at SGinvestors.io -
- Frencken’s European operations were affected by rising business costs due to higher energy process, labour crunch and higher wages. Although the group negotiated to pass on some of the cost increases to its customers, the paced of cost increases continued post consultation with its customers.
- - Read this at SGinvestors.io -
- Frencken expects
- Read more at SGinvestors.io.
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/.
William TNG CFA CGS-CIMB Research | Izabella TAN CGS-CIMB Research | https://www.cgs-cimb.com 2022-11-28
Read also CGS-CIMB's most recent report:
2023-11-23 Frencken - Most Segments’ Revenue To Grow In 2H23.Previous report by CGS-CIMB:
2023-10-19 Frencken Group - FY24-25F Outlook Likely To Improve.Price targets by 5 other brokers at Frencken Target Prices.
Listing of research reports at Frencken Analyst Reports.
Relevant links:
Frencken Share Price History,
Frencken Announcements,
Frencken Dividends & Corporate Actions,
Frencken News Articles
Frencken - 3Q22 Results Below Expectations
FRENCKEN GROUP LIMITED (SGX:E28)
