OSK sees HELP International(HELP) results as in line with estimates, after taking into account seasonal factors as the 9 months earnings historically only comprise about 65 per cent of the company's full-year earnings.

It added that as expected, due to the summer break for courses from institutions in the northern hemisphere, Q3 2010 revenue and net profit were significantly lower quarter-on-quarter.


OSK maintains its forecast and 'NEUTRAL' recommendation on HELP at an unchanged target price of RM4.30.

This is based on 14 times price earnings ration on financial year 2011 earnings per share (EPS) plus a net cash value per share of 68 sen. - Reuters