ARA ‘well positioned’ to grow

SINGAPORE (Aug 3): DBS Vickers Securities is keeping its “buy” recommendation on ARA Asset Management with a target price of $1.76 on the back of strong growth in the first half of 2016.

ARA on Tuesday posted a 9% rise in 1H16 earnings ended June to $38.7 million from $35.4 million a year ago. Excluding one-off adjustments, net profit grew 7% to $36.5 million.

(See ARA posts 7% rise in half-year net profit to $36.5 mil)

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