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Brokers' take
Published Tue, May 21, 2019 · 09:50 PM
SATS | Hold (downgraded) May 21 close: S$5.09 Target price: S$5.05 UOB Kay Hian, May 21
Core net profit for Q4 FY2019 declined by 5 per cent year-on-year (yoy) to S$248.4 million, 4 per cent below our and street forecasts. Excluding S$7 million in one-off gains in FY2018, core net profit for FY2019 grew 2.2 per cent yoy.
A steep 63 per cent decline in associate earnings was the key reason behind the disappointing results.
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