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NewsAfffin IB Research maintains Buy on DiGi, target price RM5.39
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Afffin IB Research maintains Buy on DiGi, target price RM5.39
by Cals Mon 22 Jul 2013, 09:15
Afffin IB Research maintains Buy on DiGi, target price RM5.39
Business & Markets 2013
Written by theedgemalaysia.com
Monday, 22 July 2013 08:37
KUALA LUMPUR (July 22): Affin IB Research has maintained its Buy rating on DiGi.Com Bhd at RM4.60 with a target price of RM5.39 and said there were no major surprises in DiGi's 1H13 results.
In a note Monday, the research house said DiGi’s 1H13 net profit accounted for 45% of its FY13 estimates.
It said the 2Q13 dividend per share (DPS) amounted to 4.8 sen (98% payout).
It said DiGi’s 1H13 Net profit rose 10% year-on-year to RM709 million largely on lower accelerated depreciation charges and should further accelerate in 2H13 (estimated account depreciation of RM13 million versus 1H13: RM137 million).
“Sequentially, net profit jumped 16% on margin improvement (after 2 quarters being under pressure) as well as lower depreciation charges. Margin improvement was driven by service revenue growth versus device sales.
“Maintain Buy on DiGi for its growth angle and potential for DPS upside (if it undertakes a business trust model),” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Monday, 22 July 2013 08:37
KUALA LUMPUR (July 22): Affin IB Research has maintained its Buy rating on DiGi.Com Bhd at RM4.60 with a target price of RM5.39 and said there were no major surprises in DiGi's 1H13 results.
In a note Monday, the research house said DiGi’s 1H13 net profit accounted for 45% of its FY13 estimates.
It said the 2Q13 dividend per share (DPS) amounted to 4.8 sen (98% payout).
It said DiGi’s 1H13 Net profit rose 10% year-on-year to RM709 million largely on lower accelerated depreciation charges and should further accelerate in 2H13 (estimated account depreciation of RM13 million versus 1H13: RM137 million).
“Sequentially, net profit jumped 16% on margin improvement (after 2 quarters being under pressure) as well as lower depreciation charges. Margin improvement was driven by service revenue growth versus device sales.
“Maintain Buy on DiGi for its growth angle and potential for DPS upside (if it undertakes a business trust model),” it said.
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