|Bid||0.8800 x 0|
|Ask||0.8900 x 0|
|Day's range||0.8800 - 0.9000|
|52-week range||0.4650 - 0.9900|
|Beta (5Y monthly)||1.44|
|PE ratio (TTM)||8.89|
|Forward dividend & yield||0.02 (2.43%)|
|Ex-dividend date||03 May 2019|
|1y target est||0.76|
The impact of the ongoing trade war between China and the US has been felt in 2Q19 results for Singapore technology-related manufacturing companies. Five out of the 12 companies under CGS-CIMB Research’s coverage reported 2Q19 results that came in below analysts’ expectations while only four companies managed to beat expectations. With no end in sight, the trade war is making itself felt in the form of uncertainty and/or delays in customers’ plans while analysts also opined the impact of the escalating trade war will likely to continue into 2H19.
SINGAPORE (Aug 13): Technology solutions provider Frencken Group has emerged one of the rare manufacturing companies that delivered growth in 2Q19, even as many of its peers in the manufacturing sector companies saw their profits tumble amid geopolitical tensions and a slowing economy. 2Q19 revenue increased by 11.5% to $164.3 million, from $147.4 million a year ago, spearheaded by a 16.7% growth in revenue from the Mechatronics Division. Segmentally, sales from the industrial automation segment, which was noted to be typically lumpy in nature, more than doubled to $46.1 million due to increased orders for storage drive production equipment from a key multinational customer.
Since US President Donald Trump initiated the trade war with China in March 2018, Singapore stocks, especially those in the technology and manufacturing sector, have taken a significant hit. The mainboard-listed technology solutions provider Frencken Group (Frencken) was no exception.