HSG [UNDERPERFORM -11.1%] - Management sets ambitious profit target on slower revenue - AGM Note
  • 2019-01-14T19:35:39
  • Company Research
We attended HSG’s annual general meeting (AGM) on Monday, 14 January 2019. FY2019 management guidance of 9% YoY decrease in revenue trails our forecast while 22% growth in NPAT is higher than our forecast. The latter looks very ambitious, in our view, given a tough industry landscape and weak Q1 prelim results.