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AsiaPhos’ P4 business shows promise of turnaround

PC Lee
PC Lee9/14/2017 1:2 PM GMT+08  • 2 min read
AsiaPhos’ P4 business shows promise of turnaround
SINGAPORE (Sept 14): NRA Capital is upbeat on AsiaPhos’ phosphorous or P4 business as the company starts year-round production with first half performance showing promise of a possible turnaround this year.
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SINGAPORE (Sept 14): NRA Capital is upbeat on AsiaPhos’ phosphorous or P4 business as the company starts year-round production with first half performance showing promise of a possible turnaround this year.

“Our updated model factors in the expansion of the downstream business over time and values AsiaPhos at $187.9 million or $0.167 per share, yielding upside of 85%,” says analyst Liu Jinshu in a Wednesday report.

AsiaPhos reported net profit of $0.8 million in 2Q17, compared to $0.4 million in 2Q16. The downstream business was the star performer, selling 117.4% more phosphorous than a year ago or 5,000 tonnes in 2Q17.

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