Wing Tai Holdings - Well-Positioned To Tide Through Macroeconomic Headwinds

- Wing Tai (SGX:W05)'s 1HFY23 results are aligned with our estimates, amid moderating development property sales in 2023.
- Key positives:
- Stronger-than-expected associates & JV income from Uniqlo JVs,
- Read this at SGinvestors.io -
Wing Tai's 1HFY23 revenue and operating profit aligned with our estimates.
- For the 1HFY23 (Jul to Dec 2022), Wing Tai recorded a total revenue of S$260.8mil (-15% y-o-y), with the Group seeing lower y-o-y contribution from development properties (i.e., property sales include the last unit in Le Nouvel Ardmore and progressive sales recognised from The M at Middle Road in Singapore). See Wing Tai's announcement dated 09 Feb 2023.
- Read this at SGinvestors.io -
Stronger-than-expected Uniqlo JV income a boost to net profit.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Elizabelle Pang DBS Group Research | https://www.dbs.com/insightsdirect/ 2023-02-10
Previous report by DBS:
2022-08-29 Wing Tai Holdings - FY22 Results: Taking Flight!.
Price targets by other brokers at Wing Tai Target Prices.
Listing of research reports at Wing Tai Analyst Reports.
Relevant links:
Wing Tai Share Price History,
Wing Tai Announcements,
Wing Tai Dividends & Corporate Actions,
Wing Tai News Articles