Home Capital Broker's Calls

Memtech kept at 'add' by CIMB on double-digit growth, dividend yield and diversification

PC Lee
PC Lee4/27/2018 12:07 PM GMT+08  • 2 min read
Memtech kept at 'add' by CIMB on double-digit growth, dividend yield and diversification
SINGAPORE (Apr 27): CIMB is maintaining Memtech International at “add” as it continues to like the stock for its double-digit earnings growth, 4% dividend yield, balance sheet strength and customer diversification efforts.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Apr 27): CIMB is maintaining Memtech International at “add” as it continues to like the stock for its double-digit earnings growth, 4% dividend yield, balance sheet strength and customer diversification efforts.

In a Thursday report, CIMB Ngoh Yi Sin sees potential in its industrial & medical segment, which saw 103% y-o-y sales growth thanks to the launch of a new series of IoT-enabled, handheld scanner, and possibly adding radio communication devices to its product portfolio.

To recap, Memtech posted 1Q18 net profit of US$1.3 million ($1.7 million), which was 16% lower than 1Q17 and formed 10% of CIMB’s and consensus full-year forecasts. Excluding US$0.5 million forex loss, core net profit would have improved 8% y-o-y to US$1.8 million, deemed in line as the house forecasts a seasonally stronger 2H18.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.