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HRnetGroup on track for continued excellence in FY18, says RHB

Michelle Zhu
Michelle Zhu8/13/2018 11:32 AM GMT+08  • 2 min read
HRnetGroup on track for continued excellence in FY18, says RHB
SINGAPORE (Aug 13): RHB is maintaining “buy” on HRnetGroup with an unchanged target price of $1.18.
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SINGAPORE (Aug 13): RHB is maintaining “buy” on HRnetGroup with an unchanged target price of $1.18.

This comes after the group posted a strong 2Q18 set of results,with HRnetGroup’s 2Q topline ring 10.8% y-o-y due mainly to strong performances in North Asia and Singapore as well as higher gross profit margin, in line with the research house’s expectations.

In a report last Friday, analyst Jarick Seet says he expects the group’s REForce acquisition in China to contribute positively to 2H18 PATMI going forward. He also foresees the positive growth momentum in North Asia to continue driving HRnetGroup’s profitability going forward.

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