As a result, the analyst has cut his FY2024/2025 profit after tax and minority interests (patmi) forecasts by 28% and 39% respectively to factor in lower-than-expected growth as well as an increase in wages.
Maybank Securities analyst Jarrick Seet has kept his “buy” call on Beng Kuang Marine (SGX:BEZ
) with a lowered target price of 27 cents from 29 cents previously following the group’s 3QFY2024 ended September results.
In the period, Beng Kuang’s revenue rose 25% y-o-y to $26.8 million, while profit before tax (PBT) increased by 27% to $3.79 million.
