DQC - No clear signs of improvement yet - Earnings Flash
DQC released its unaudited 2017 financial results today. While revenue and operating profit were in line with our forecasts, NPAT exceeded our forecast by 13% due to higher-than-expected FX gains and shared profits from associates in Q4 2017. As these are non-core, non-recurring items, they do not alter our view on the company. We do not foresee any material change to our target price.