What to expect in SingTel's upcoming results release

SINGAPORE (May 18): SingTel is about to release its 4Q20 results next week and CGS-CIMB is forecasting core net profit of $620 million to $640 million, or 8-11% lower y-o-y, mainly due to Optus and Singapore.

On a q-o-q basis, analyst Foong Choong Chen in a Friday report believes that earnings would rise by 13-16% due to improvements at Bharti, Globe and Optus. He also expects SingTel to pay a final DPS of 10.7 cents, as per its FY20 guidance.

Foong has kept his “add” recommendation on SingTel with a target price of $3.40.