BRC Asia - UOB Kay Hian 2023-12-12: Strong Finish Exceeds Expectations; Upgrade To BUY

BRC Asia - Strong Finish Exceeds Expectations; Upgrade To BUY

Published:
BRC Asia (SGX:BEC) | SGinvestors.ioBRC Asia (SGX:BEC)
  • BRC Asia reported lower FY23 earnings of S$76m (-16% y-o-y), dragged by the heightened safety period in 1HFY23. However, FY23 earnings were still above our expectation, driven by a robust 4QFY23 as gross margins expanded.
  • - Read this at SGinvestors.io -

Strong 4QFY23 results.

  • BRC Asia (SGX:BEC) reported lower FY23 revenue and PATMI of S$1,627m (-4% y-o-y) and S$75.7m (-16% y-o-y) respectively, forming 97% and 111% of our full-year estimates and above our expectations. Excluding a one-off S$7.8m loss on its Maldives resort investment, PATMI would have formed 122% of our full-year forecast.
  • - Read this at SGinvestors.io -

Another special dividend.

  • 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/.




Llelleythan Tan UOB Kay Hian Research | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2023-12-12



Previous report by UOB:
2023-08-17 BRC Asia - 3QFY23 Results In Line; No Near-Term Catalysts.

Price targets by other brokers at BRC Asia Target Prices.

Listing of research reports at BRC Asia Analyst Reports.

Relevant links:
BRC Asia Share Price History,
BRC Asia Announcements,
BRC Asia Dividends & Corporate Actions,
BRC Asia News Articles





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