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WTON: 3Q19 Strong Result
06 Nov 2019

WTON: 3Q19 Strong Result

WTON booked a strong 3Q19 result in which the revenue and net profit increased by 28.9% QoQ and 42.5% QoQ attained to Rp 1.7 trillion and to Rp 137 billion,
respectively. The company managed to improve its 3Q19 gross margin by 140 bps to the level of 14.8% which was fuelled by higher margin from concrete product and service segments at the level of 15.3% and 14.1%, respectively. Recently, the share price has shrunk by 29% from its highest closing price YTD 2019 and traded at its 3-years average fwd PER band – 1 stdev of 6.17x. Keep BUY rating on the counter.

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