Brokers' take

Petra Foods | Sell

May 7 close: S$3.60

Fair value: S$3.61

OCBC Investment Research, May 7

Petra Foods' Q115 revenue was down 13.5 per cent year-on-year to US$106.2 million and formed 20 per cent of our FY15 forecast. Patmi stood at US$7.7 million, which was 42.8 per cent lower year-on-year and only constituted about 13-14 per cent of our and the street's FY15 projections. Unlike previous quarters, we saw a dismal showing in constant currency terms as both revenue and Patmi also saw a year-on-year decline...

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