The miss was due to low waste-to-energy (WTE) gross margin from high coal prices, higher than expected finance costs and lower than expected quantity of waste processed.
SINGAPORE (Mar 8): CIMB is reiterating its “add” recommendation on China Jinjiang Environment Holdings (CJE) with a lower target price of 85 cents.
This came after the group reported a 10.5% rise in 4Q17 earnings to RMB 204.7 million ($43 million) from a year ago, bringing FY17 earnings to 0.6% higher at RMB 201.2 million, which was short of the research house’s forecast by 12%.
