Bursa Malaysia Stock Watch
'Strong DRB-HICOM Q3 results likely'
kltrader
Publish date: Thu, 17 Feb 2011, 09:46 PM
kltrader
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DRB-HICOM Bhd is expected to announce a strong third quarter results next week, with strong performance in the motor division, says HwangDBS Vickers Research in its Malaysia Equity Research.
It has forecast RM539 million net profit on a turnover of RM6.513 billion for DRB-HICOM for the financial year ending March 31, 2011, but considered the forecast as conservative given that the conglomerate already posted RM290 million net profit for the first half.
It said the total industry volume for the automotive sector in 2010 grew 13 per cent to 605,156 units.
It said DRB-HICOM's motor division surged 3.5-fold to RM207 million in the first half.
DRB-HICOM is scheduled to release its third quarter results on Feb 24. - Bernama
It has forecast RM539 million net profit on a turnover of RM6.513 billion for DRB-HICOM for the financial year ending March 31, 2011, but considered the forecast as conservative given that the conglomerate already posted RM290 million net profit for the first half.
It said the total industry volume for the automotive sector in 2010 grew 13 per cent to 605,156 units.
It said DRB-HICOM's motor division surged 3.5-fold to RM207 million in the first half.
DRB-HICOM is scheduled to release its third quarter results on Feb 24. - Bernama
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