Bumitama Agri - UOB Kay Hian 2015-10-22: 3Q15 Results Preview: Hot Weather Making A Small Dent
BUMITAMA AGRI LTD P8Z.SI Bumitama Agri (BAL SP) - 3Q15 Results Preview: Hot Weather Making A Small Dent
- Bumitama reported 3Q15 FFB nucleus and CPO production growth of 15% and 21% yoy respectively.
- 9M15 production growth was below expectation as 3Q15 production pick-up was not as strong as expected due to the prolonged dry weather. Hence, we reduce our production growth forecasts for 2015-16 to 9% and 18% respectively, and cut our net profit forecasts by 11-18% for 2015-17.
- Maintain BUY. Target price: S$1.10.
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