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Bright outlook of Banyan Tree's Thai business keeps it at 'buy'

Samantha Chiew
Samantha Chiew11/15/2017 03:14 PM GMT+08  • 2 min read
Bright outlook of Banyan Tree's Thai business keeps it at 'buy'
SINGAPORE (Nov 15): UOB KayHian is maintaining its “buy” call on Banyan Tree with a target price of 92 cents, after the group’s 3Q17 results came in largely in line.
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SINGAPORE (Nov 15): UOB KayHian is maintaining its “buy” call on Banyan Tree with a target price of 92 cents, after the group’s 3Q17 results came in largely in line.

The group registered a net profit in 3Q17 of $21.0 million, a reversal from $10.8 million losses last year, due to a $40.4 million one-off gain from the divestments to Vanke.

Revenue also improved 9.1% y-o-y on higher revenue recognition from property sales as Cassia Bintan (Phase 1) was completed, but this was offset by lower contribution from fee-based and hotel investments segments as well as higher forex loss during the period.

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