SINGAPORE (Aug 18): NRA Capital is maintaining its ‘overweight’ rating on AsiaPhos with a fair value of 19.5 cents.

In 2Q16, despite the early onset of inclement weather which caused revenue to plunge 20%, the phosphate miner and processor reported EBITDA grew 51.6% from a year ago, with EBIT turning around to $0.5 million from a negative $1 million in 1Q16.

“AsiaPhos’ share price has remained stable at between 8 to 9 cents,” notes the analyst.  

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