Brokers' take
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Fu Yu Corp > Buy (maintained) RHB Research Institute, Oct 4 Oct 4 close: S$0.22 Target price: S$0.24
FU YU Corp recorded a steady first half of FY2019, as profit after tax and minority interests grew 10.7 per cent year-on-year.
Despite a one-off expense of S$5.5 million from the closure of its Shanghai plant, we expect continued revenue and margin expansion on new projects in the auto, consumer and medical spaces. As over 80 per cent its revenue is collected in US dollars, it should also benefit from the strengthening of the greenback.
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