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Procurri held back by higher costs, poor execution of newly acquired businesses

PC Lee
PC Lee5/15/2017 3:16 PM GMT+08  • 2 min read
Procurri held back by higher costs, poor execution of newly acquired businesses
SINGAPORE (May 15): DBS is maintaining its “hold” call on Procurri with a revised target price of 32 cents as the company has yet to demonstrate better execution.
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SINGAPORE (May 15): DBS is maintaining its “hold” call on Procurri with a revised target price of 32 cents as the company has yet to demonstrate better execution.

Despite strong growth expected in the medium term, the delayed bottom-line contribution from acquisitions and cost escalations have lowered expectations of near-term profitability, says DBS.

“While the company continues to selectively prospect for acquisition targets, we believe the company still requires some time to improve its current execution with the EAF acquisition and Rockland JV,” says the Singapore research team in a Monday report.

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