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RTNominal down35.300 -0.450 (-1.259%)

26/11/2019 18:01

{I-bank focus}CG Services (06098) sees higher growth in 2H

[ET Net News Agency, 26 November 2019] UBS Global Research cited Country Garden
Services (CGS)(06098) management on investor day guiding that both revenue and net profit
growth in 2H will come higher than the 74% and 72% growth in 1H.
The full-year gross margin is likely to dip slightly, mainly dragged by the takeover of
projects in water, heat, and gas supply and property management from SOEs and the
acquisition of Asia Asset.
On the other hand, management is confident to exceed the target revenue-bearing GFA
growth of 70m sqm in 2019. For 2020, management guided at least 40% revenue growth and 80m
sqm of new revenue-bearing GFA.
UBS maintained its "neutral" rating on CGS, with a target price of HK$23.5. (KL)

Remark: Real time quote last updated: 28/05/2020 17:58
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