Bursa Malaysia Stock Watch

HELP - OSK Research maintains Neutral on HELP

kltrader
Publish date: Fri, 24 Sep 2010, 11:05 AM
kltrader
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Stock Name: HELP
Company Name: HELP INTERNATIONAL CORPORATION
Research House: OSK

KUALA LUMPUR: OSK Research said although HELP International Corp Bhd's nine-months net profit of RM12.62 million only made up about 68% of its forecast for the financial year ending Oct 31, 2010, 'we deem the results in line with our estimates'.

It said on Friday, Sept 24, this was after taking into account seasonal factors as the 9M earnings historically only comprised about 65% of the company's full-year earnings.

As expected, due to the summer break for courses from institutions in the northern hemisphere, 3Q10 revenue and net profit were significantly lower on-quarter.

'We maintain our forecast and NEUTRAL recommendation at an unchanged TP of RM4.30, based on 14 times PER on FY11 EPS plus a net cash value per share of 68 sen,' it said.

 
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