[ET Net News Agency, 3 July 2019] Citi Research lowered its target price for Kingboard
Laminates (KBL)(01888) to HK$11.5 from HK$12.3 and maintained its "buy" rating.
KBL will post 1H results in mid-August. The research house reduced its earnings estimate
by 6-12% for 2019-21 for the weaker-than-expected laminate segment. Citi forecast the 1H1
earnings would fall 30% to HK$1.24bn owing to shrinking both laminate/property profit
against revenue slide of 6% to HK$9bn.
There shouldn't be any major one-off item over the period. Citi expects laminate and
property segmental profit fell by 28% and 44% to HK$1.09bn and HK$0.15bn respectively.
In view of a larger reduction of property profit with higher margin, the 1H GM would
contract to 22.4% from 27.4% on the mix change, Citi noted. Property margin should be
comparable while laminate margin would drop by 3% point for higher material cost hike.
(KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01888 KB LAMINATES
Nominal 
6.190 +0.110 (+1.809%) Research Report
03/07/2019 17:48
[I-bank focus]Citi trims Kingboard Laminates to HK$11.5
| Remark: | Real time quote last updated: 20/09/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |