BUZZ-ASX-listed Tuas' mobile, broadband operations to exceed estimates, says Citi

Reuters
03-11
BUZZ-ASX-listed Tuas' mobile, broadband operations to exceed estimates, says Citi

** Analysts at Citi expect Australia-listed Tuas TUA.AX to beat market expectations for growth in both mobile and broadband businesses

** Says disciplined cost management by the firm is likely to result in higher margins

** Mobile business is likely to continue its growth trajectory and we estimate overall market share for TUA to have increased to 11.5% in 1H, says Citi

** Brokerage expects the telecommunications firm to report 1H revenue of S$69 mln ($51.76 mln), 26% higher than last year

** Sees 1H EBITDA forecast of S$29 mln, which implies margin of 41.5%, that is 60 bps higher than last year

** Brokerage has a "buy" rating on stock and A$7.1 price target

** Stock down 0.5% YTD

($1 = 1.3330 Singapore dollars)

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com;))

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