0608 GMT - Nanofilm Technologies International's 2024 net profit may come below consensus expectation of S$11.4 million, CGS International's William Tng says in a research report. The brokerage cuts its 2024 net profit forecast for Nanofilm to S$5.7 million from S$9.2 million on likely start-up losses from the company's India and Vietnam production sites. The nanotechnology solutions provider's subsidiary AxynTeC is also anticipated to be in the red for 2024 as Nanofilm sought to expand its presence into Europe, the analyst says. The company's joint-venture Sydrogen Energy also likely remained loss-making in 2H of 2024, the analyst adds. The brokerage cuts the stock's target price to S$0.63 from S$0.69 and maintains a reduce rating. Shares are 3.25% lower at S$0.745. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 22, 2025 01:08 ET (06:08 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.