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mm2 Asia still a decent 'buy' even as growth hits a snag, says DBS

Michelle Zhu
Michelle Zhu11/16/2018 01:26 PM GMT+08  • 2 min read
mm2 Asia still a decent 'buy' even as growth hits a snag, says DBS
SINGAPORE (Nov 16): DBS Vickers Securities is maintaining its “buy” call on mm2 Asia with a lower target price of 50 cents compared to 62 cents previously, after the group’s 1H19 results came in below expectations.
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SINGAPORE (Nov 16): DBS Vickers Securities is maintaining its “buy” call on mm2 Asia with a lower target price of 50 cents compared to 62 cents previously, after the group’s 1H19 results came in below expectations.

To recap, mm2 Asia reported revenue of $113.9 million for 1H19 after 2Q net earnings were hit by higher interest costs, including a one-off charge in relation to its purchase of Cathay cinema.

In its latest report on Thursday, analyst Ling Lee Keng says she has imputed slower growth ahead for mm2’s core production segment on the back of the delay of key title releases to-date.

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