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'Hold' BRC Asia on construction rebound, easing steel prices: SAC Capital

Jovi Ho
Jovi Ho5/31/2022 03:43 PM GMT+08  • 3 min read
'Hold' BRC Asia on construction rebound, easing steel prices: SAC Capital
“We are, however, more concerned about the impact of a price decline.”
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A rebound in construction activities helped BRC Asia Holdings beat expectations in 1HFY2022, says SAC Capital analyst Peggy Mak.

Revenue grew 61.0% y-o-y to $793.3 million, and net profit grew 108% to $39.8 million, buoyed by higher steel prices (up about 35%) and volume (up about 25%).

In a May 25 note, Mak is maintaining “hold” on BRC Asia Holdings with a target price of $1.92.

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