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Kimly kept at 'buy' despite dip in 3Q earnings

Stanislaus Jude Chan
Stanislaus Jude Chan8/10/2018 03:47 PM GMT+08  • 2 min read
Kimly kept at 'buy' despite dip in 3Q earnings
SINGAPORE (Aug 10): RHB Research is keeping its “buy” call on Kimly with an unchanged target price of 46 cents – implying an estimated upside of 35% – despite the traditional coffeeshop operator reporting a dip in its earnings for the 3Q ended Jun
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SINGAPORE (Aug 10): RHB Research is keeping its “buy” call on Kimly with an unchanged target price of 46 cents – implying an estimated upside of 35% – despite the traditional coffeeshop operator reporting a dip in its earnings for the 3Q ended June.

Kimly saw its 3Q18 earnings fall 4.8% to $5 million on the back of higher property, plant and equipment depreciation costs.

However, 3Q18 revenue grew 4.2% to $49.9 million, boosted mainly by higher contributions from both the group’s outlet management and food retail divisions.

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