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What next from Cityneon after a ‘smashing’ set of results?

PC Lee
PC Lee2/24/2017 01:13 PM GMT+08  • 2 min read
What next from Cityneon after a ‘smashing’ set of results?
SINGAPORE (Feb 24): CIMB is keeping Cityneon Holdings at “add” with $1.27 target price after the latter produced a “smashing” set of FY16 results, according to analyst Ngoh Yi Sin.
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SINGAPORE (Feb 24): CIMB is keeping Cityneon Holdings at “add” with $1.27 target price after the latter produced a “smashing” set of FY16 results, according to analyst Ngoh Yi Sin.

The specialist of travelling interactive exhibitions reported FY16 net profit of $6.7 million, accounting for 88% of Bloomberg consensus full-year numbers. While this appears to be a miss, stripping out one-off expenses, FY16 core net profit came in at $8 million, in line with full-year forecasts.

Although Victory Hill Exhibitions (VHE) contributed only 18% of Cityneon’s revenue, the subsidiary accounted for close to 90% of FY16 net profit, lifted by 76% gross profit margin.

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