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PC1 - Well prepared for profit boom during 2018-2020 - AGM Note

PC1 held its AGM on April 23. Management addressed shareholder complaints regarding investor relations and satisfied most questions. The company set conservative guidance for 2017 with revenue growing by 19.3% YoY and flat NPAT due to a lack of contribution from the real estate segment. Weak Q1 results (revenue -23% YoY and NPAT -40% YoY) were due to a lack of contribution from real estate, which we expected, and they do not change the company’s outlook.