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Procurri gets vote of no confidence from inconsistent profit growth

Samantha Chiew
Samantha Chiew11/16/2017 10:25 AM GMT+08  • 2 min read
Procurri gets vote of no confidence from inconsistent profit growth
SINGAPORE (Nov 16): DBS is maintaining its “fully valued” recommendation on Procurri Corporation with a target price of 18 cents and will be suspending coverage on the stock following its latest report.
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SINGAPORE (Nov 16): DBS is maintaining its “fully valued” recommendation on Procurri Corporation with a target price of 18 cents and will be suspending coverage on the stock following its latest report.

The group is in the trying phase of managing its core organic business in IT distribution and lifecycle services, which saw the loss of a major customer in 2017.

In a Wednesday report, analyst Sachin Mittal says, “With cost issues related to EAF acquisition and Rockland JV, coupled with slower-than-expected organic business, Procurri may not be profitable in FY17F and any meaningful recovery is only possible in beyond FY18F.”

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