not vested
Frencken Group (FRKN SP)
2H20: Positive Operating Leverage from Semiconductor To Continue2H20 results were in line with expectations, with earnings of S$23.8m (+5.2% yoy)
taking full-year net profit to S$42.6m (+0.5%).
The semiconductor sub-segment (+60.7%) drove positive operating leverage in 2020 on accelerating demand for lithography systems.
We expect the growth to be sustained on the continued development of 5G
technology and the global chip shortage.
Reiterate BUY on Frencken with a higher target price of S$1.72 after raising our valuation peg.
Source: UOBKH
https://research.uobkayhian.com/content ... 305c767c01
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