Noble Group (N21.SG) 2Q net profit likely down sharply at US$122 million ($165 million) vs US$248.8 million year earlier due to exceptional gain booked last year, according to Dow Jones Newswires poll of 5 analysts; revenue likely higher at US$7.8 billion vs US$7.2 billion.

“Although certain businesses may turn in lacklustre results in the second quarter, strength from other units as well as contributions from recent acquisitions should buffer the group’s overall performance. We continue to like Noble for its robust medium term growth outlook and reasonable valuations,” says OCBC Investment Research.

Results due Thursday after market close.