Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
Target RM5.79
The 7% results outperformance by Dialog, Axiata's Sri Lankan unit in FY11 came from stronger-than-expected revenues and EBITDA margin, which reflect benign competition and cost cutting. Gearing fell to a multi-year low, allowing it to declare higher dividends. We retain our Outperform call and SOP target basis for Axiata. It remains one of our top regional telco picks as we expect it to ratchet up its dividend payout in FY11, which will surprise the market.
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Company Name: AXIATA GROUP BERHAD
| Research House: CIMB | Price Call: BUY | Target Price: 5.79 |
Target RM5.79
The 7% results outperformance by Dialog, Axiata's Sri Lankan unit in FY11 came from stronger-than-expected revenues and EBITDA margin, which reflect benign competition and cost cutting. Gearing fell to a multi-year low, allowing it to declare higher dividends. We retain our Outperform call and SOP target basis for Axiata. It remains one of our top regional telco picks as we expect it to ratchet up its dividend payout in FY11, which will surprise the market.
Click here for full reports.
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