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PHR - Strong NPAT growth thanks to recovering rubber prices - Small Cap Research

We recommend investors accumulate shares of PHR over the next three to six months due to its leading position in the natural rubber manufacturing segment, which has benefitted from a recovering of natural rubber prices. The liquidation of rubber trees also contributes to favorable FY16 earning growth. At 7.5x P/E ratio, we consider PHR is not priced as the best performing company in the natural rubber manufacturing segment.