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Midas on road to recovery with railway-related businesses on growth track

Dannon Har
Dannon Har3/2/2017 12:33 PM GMT+08  • 2 min read
Midas on road to recovery with railway-related businesses on growth track
SINGAPORE (March 2): DBS Vickers Securities is maintaining its “buy” rating on Midas Holdings with a lower target price of 36 cents from 38 cents previously, thanks to better-than-expected FY16 earnings and a predicted revival of its core business.
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SINGAPORE (March 2): DBS Vickers Securities is maintaining its “buy” rating on Midas Holdings with a lower target price of 36 cents from 38 cents previously, thanks to better-than-expected FY16 earnings and a predicted revival of its core business.

To recap, the aluminium supplier last Friday posted a strong set of FY16 financial results, where net profit had rebounded 76% y-o-y to RMB 101 million ($20 million), indicating a strong recovery momentum.

(See also: Midas posts 76% rise in FY16 earnings to $20.5 mil, thanks to contributions from new division)

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