DJ MARKET TALK: China Comm Cons +4.2% On 1H07 Profit
2007/09/10 12:31
1058 [Dow Jones] China Communications Construction (1800.HK) +4.2% at HK$18.40, off new all-time high of HK$18.54 (immediate cap) given 153% on-year rise in 1H07 net profit at CNY2.7 billion, with gross margin in construction segment to 7.9% in 1H07 from 6.8% in 1H06; operating margins at 6.7% from 5.3% due to high operating leverage. Kim Eng's Edward Fung says may revise target price on stock after better-than-expected result. "We may revise our earnings forecast after strong interim results." Fung declines to give specific numbers on earnings as they are under review; says current rating is Hold, adds current target price "more than HK$14". Volume strong at HK$911.8 million.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com (Delayed by 1 hour)
2007/09/10 12:31
1058 [Dow Jones] China Communications Construction (1800.HK) +4.2% at HK$18.40, off new all-time high of HK$18.54 (immediate cap) given 153% on-year rise in 1H07 net profit at CNY2.7 billion, with gross margin in construction segment to 7.9% in 1H07 from 6.8% in 1H06; operating margins at 6.7% from 5.3% due to high operating leverage. Kim Eng's Edward Fung says may revise target price on stock after better-than-expected result. "We may revise our earnings forecast after strong interim results." Fung declines to give specific numbers on earnings as they are under review; says current rating is Hold, adds current target price "more than HK$14". Volume strong at HK$911.8 million.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com (Delayed by 1 hour)
