Brokers' take

mm2 Asia | BUY Target price: S$0.70 May 24 close: S$0.585 DBS Group Research, May 24

mm2 Asia reported a strong set of FY March 2017 results. Net profit for FY2017 of S$18.8 million (+130 per cent) was 13 per cent above our expectations due to better margin. Revenue came in at S$95.4 million (+149 per cent). The increase in revenue was mainly due to additional revenue generated from its newly acquired subsidiary, UnUsUal, which recorded revenue of S$22.6 million, and additional revenue generated from cinema business of S$7.7 million. . . We continue to project that mm2 will grow at an earnings per share compounded annual growth rate of 52 per cent from FY16 to FY19, underpinned by growth in productions, expansion into the China market, and contribution from UnUsUal. The cinema arm, on the other hand, builds a recurring income base.

Singapore Exchange | BUY Target price: S$9.10 May 24 close: S$7.42 RHB Research, May 24