- Upgrade SIA to HOLD with a higher target price of S$5.75.
- SIA’s FY23 (Apr 2022 to Mar 2023) core net profit was in line with our expectations at 99% of our forecast. The final dividend of 28 cents was a positive surprise, leading to a 6.3% full-year yield for FY23. (See SIA's dividend date)
- - Read this at SGinvestors.io -
SIA's FY23 results in line.
- - Read this at SGinvestors.io -
- Core EBIT was below our projection at 93.4% of our forecast, but the shortfall was made up for by better-than-expected JVs/associates contribution (thanks to lower losses of Vistara) and lower-than-expected net interest cost.
- See SIA's announcement dated 16 May 2023 for FY23 financial statements and SIA's announcement dated 17 May 2023 for presentation slides.
Core profitability has peaked.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Roy Chen CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-05-18
Read also UOB's most recent report:
2024-04-17 Singapore Airlines - Pax Data Slightly Better Than Expected, But Cargo Misses In Mar 24.
Previous report by UOB:
2024-03-19 SIA's Feb 24 Operation Data - Both Pax & Cargo Data Better Than Expected.
Price targets by 4 other brokers at SIA Target Prices.
Listing of research reports at SIA Analyst Reports.
Relevant links:
SIA Share Price History,
SIA Announcements,
SIA Dividends & Corporate Actions,
SIA News Articles
