Stock Name: QL
Company Name: QL RESOURCES BHD
Research House: OSK



OSK Research has raised QL Resources Bhd's financial year 2011/2012 net profit forecast by 3.1 per cent to 9.7 per cent to RM128.2 million and RM152.7 million respectively, as the previous forecast was too conservative.

"As it was too conservative and also taking into account the lower interest expenses and a higher crude palm oil price of RM2,700 per tonne, we are raising our net profit forecast," the research firm said in a research note today.

For the third quarter ended September 30, 2010, QL Resources recorded a higher pre-tax profit of RM42.813 million compared to RM33.921 million in the same period last year. Its revenue rose to RM438.725 million from RM337.167 million previously.

QL Resources is primarily involved in marine processing manufacturing, integrated livestock farming and palm oil activities. -- Bernama