Stock Name: WCT
Company Name: WCT BHD
Reported FY11PATAMI grew by 8% to RM162.4m (20.2 sen/share), beating ours and consensus' numbers slightly by 2.5% and 1.7% respectively. Net dividend of 3.75 sen/share declared, bringing full year payout to 7.5 sen/share.
After a slow 3Q, WCT's 4Q earnings rebounded led by a strong pick up in construction activities. However, the property division's earnings plunged.
Maintain BUY with TP of RM2.98. Our TP is subject to revision after the analyst briefing later.
Source: HLB Research 24 Feb 2012
Company Name: WCT BHD
| Research House: HLG | Price Call: BUY | Target Price: 2.98 |
Reported FY11PATAMI grew by 8% to RM162.4m (20.2 sen/share), beating ours and consensus' numbers slightly by 2.5% and 1.7% respectively. Net dividend of 3.75 sen/share declared, bringing full year payout to 7.5 sen/share.
After a slow 3Q, WCT's 4Q earnings rebounded led by a strong pick up in construction activities. However, the property division's earnings plunged.
Maintain BUY with TP of RM2.98. Our TP is subject to revision after the analyst briefing later.
Source: HLB Research 24 Feb 2012
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