Home Capital Broker's Calls

CGS-CIMB maintains buy on GVT, but trims target price

Lim Hui Jie
Lim Hui Jie5/26/2022 04:28 PM GMT+08  • 3 min read
CGS-CIMB maintains buy on GVT, but trims target price
Photo Credit: The Edge Singapore/Albert Chua
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

CGS-CIMB analyst William Tng has maintained his “buy” call on Grand Venture Technology after the release of its 1QFY2022 ended March business update on May 6, but has cut the target price from $1.60 to $1.29

Grand Venture’s 1QFY2022 posted a net profit after tax (npat) of $3.6 million, 8.9% higher than $3.3 million in the same period last year.

Revenue for the quarter surged by 41.0% y-o-y to $32.5 million. Gross profit and ebitda increased by 24.9% and 19.5% y-o-y to $9.2 million and $7.8 million, respectively.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now