SINGAPORE (Nov 9): RHB is maintaining its “trading buy” call on Hi-P International with 61 cents price target given that its 3Q results beat consensus estimates.

To recap, Hi-P reported a strong 3Q15, blowing past average consensus estimates with revenue and net profit after tax (NPAT) surging 60% to $394 million and 125.8% to $24.3 million, a strong reverse from a $22 million loss in 1H15.

Gross profit margin expanded from 9.4% to 13.6% due to a shift in product mix.

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