Brokers' take

Wheelock Properties (S) > Buy OCBC Research, Nov 24 Nov 24 close: S$1.91 Fair value: S$2.27

BOOSTED by the turnaround in the domestic residential market, Wheelock's projects are now mostly sold.

The group recently reported quarterly results with Q3FY17 PATMI (profit after tax and minority interests) increasing 72.1 per cent year-on-year to S$48.8 million. This was broadly in line with expectations. For the year to date, 9M17 revenues decreased 26 per cent YoY mostly due to lower sales at Ardmore Th…