Brokers' take

Frencken Group | Neutral (downgraded) Aug 22 close: S$0.70 Target price: S$0.81 KGI Securities, Aug 22

Q2 FY2019 profit after tax and minority interest rose 59 per cent year-on-year (yoy) to S$11.1 million, once again driven by its industrial automation (IA) segment.

Its IA revenues surged 129 per cent yoy and 10 per cent quarter-on-quarter (qoq) to S$45 million, offsetting weakness in its semiconductor business, which declined 23 per cent yoy and 8 per cent qoq to S$24 million.