Hong Kong Aviation Engineering Co is the SAR's largest aircraft maintenance and

HONG KONG Aviation Engineering Co (Haeco) is the SAR's largest aircraft maintenance and repair operator.

Indosuez WI Carr put a sell recommendation on the stock a year ago after the company's net profits in the first half of last year fell 22 per cent on the back of a 9.2 per cent decline in turnover.

The brokerage did not expect a turnaround for at least 12 to 18 months.

This advice proved sound for investors who shifted into blue-chips.