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Sweeter first half for Delfi

Jude Chan
Jude Chan8/11/2016 05:00 PM GMT+08  • 2 min read
Sweeter first half for Delfi
SINGAPORE (Aug 11): CIMB is maintaining its “hold” call on cocoa manufacturer and supplier Delfi, with an unchanged target price of $2.69.
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SINGAPORE (Aug 11): CIMB is maintaining its “hold” call on cocoa manufacturer and supplier Delfi, with an unchanged target price of $2.69.

CIMB analyst Jonathan Seow says trading environment in the first half of 2016 was “definitely better” than a year ago, and Delfi’s core net profit in 1H16 was in line with expectations at 46% of FY16 forecast.

While Indonesian sales fell 1.4% y-o-y in 2Q in constant currency terms, Seow says outlook is positive for Indonesia, with signs of increased consumer spending.

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