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Jadason downgraded by RHB on shortage of workers and parts

Samantha Chiew
Samantha Chiew3/1/2018 03:58 PM GMT+08  • 2 min read
Jadason downgraded by RHB on shortage of workers and parts
SINGAPORE (Mar 1): RHB is downgrading its recommendation on Jadason Enterprises to “neutral” from “buy” previously with a target price of 8 cents.
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SINGAPORE (Mar 1): RHB is downgrading its recommendation on Jadason Enterprises to “neutral” from “buy” previously with a target price of 8 cents.

This came on the back of the group yesterday announcing that its FY17 earnings were up by 54% to $2.82 million from $1.83 million in FY16.

Revenue was 10% higher y-o-y at $63.1 million, but cost of sales increased 16% y-o-y to $51.1 million, bringing gross profit to $12.0 million, 7% lower than $12.9 million a year ago.

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