Singtel
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CIMB Research, Nov 12
Nov 13 close: S$3.86
Target price: S$4.50
Singtel's Q2 FY2016 core net profit was largely flat y-o-y as higher associates earnings were offset by weaker Optus earnings due to a 12.8 per cent softer Australian dollar vs the Singapore-dollar.
The earnings were in line with expectations, with H1 FY2016 at 50.2 per cent of our FY2016 forecast. In constant currency terms, core net profit was up 3.8 per cent y-o-y. A H1 FY2016 dividend per share of 6.8 Singapore cents was declared,...
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