UOL reported 2Q13 PATMI of S$431.4m which increased 151% YoY mostly due to fair
value gains at Novena Square, United Square and Odeon Towers where valuation cap
rates have compressed some 25 to 50 bps. Excluding fair value and other one-time
gains, 1H13 attributable profit is an estimated S$164.4m which is broadly in
line with our expectations – constituting 45% of OIR’s FY13 forecast of S$368.3m
– but somewhat below the street’s view (41% of FY13 consensus of S$391.8m).
UOL’s 1H13 topline cumulates to S$552.1m which is again broadly on target and
forms 47% of our forecast of S$1,168.7m for FY13.
http://www.epicresearch.co/sg/
Give A Missed Call +6531581402
0 comments:
Post a Comment