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Yinson Q1 earnings above forecast as CIMB Research ups target price


Yinson Holdings Bhd’s FY1/18 core net profit of RM355m was 12% higher than CIMB Equities Research’s forecast.

Yinson Holdings Bhd’s FY1/18 core net profit of RM355m was 12% higher than CIMB Equities Research’s forecast.

KUALA LUMPUR: Oil and gas services provider Yinson Holdings Bhd ’s FY1/18 core net profit of RM355m was 12% higher than CIMB Equities Research’s forecast and 3% above consensus, likely due to better-than-expected floating production storage and offloading (FPSO) margins. 

The research house raised its sum-of-parts based target price to RM5.13 from RM4.78 after recalibrating our balance sheet cash forecasts upon the release of the full-year results. The last traded price was RM3.76.

Analyst Reports , Oil & Gas

   

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