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Soilbuild Group Holdings Ltd
Key takeaways
• Result mostly inline with expectation. 3Q08 revenue well exceeded expectation and more than doubled 3Q07 topline to settle at S$68.4m.
Prudent capital management. Net gearing improved slightly from 2.54 to 2.30 as Soilbuild retires debt amid earnings growth. Although interest coverage dropped on business earnings fluctuation, it managed to maintain
at a healthy 10.75x in 3Q08.
Target Price S$1.02
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