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<Research>Nomura: NCI (01336.HK) Achieves Strong VONB Growth in 1Q, but NP & Net Assets Disappointing
Recommend 4 Positive 4 Negative 3 |
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Nomura wrote in a research report that NCI (01336.HK) outperformed its peers in 1Q with strong growth in value of new business (VONB) of 51% YoY, mainly benefiting from the improvement in the quality of its business. However, net profit and net assets for the period were disappointing, with net profit falling 29% YoY and net assets dropping 23% YoY, underperforming its peers. Nomura still rated NCI Buy with a target price of $23.7. AAStocks Financial News |
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