Top Story |
Carlsberg ' Ended 2011 on a good note, 2012 earnings outlook clearer Market Perform Visit Note - Carlsberg's 4QFY11 results will be out on the 28 Feb. We understand that 4Q earnings should be fairly strong, underpinned by the earlier timing of Chinese New Year, even though 4Q revenues are normally weakest during the FY. - Given that FY12 capex plans are minimal, comprising mainly replacement capex of around RM30m, we believe Carlsberg could potentially pay out 90-100% of its FY11 earnings. |
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Corporate Highlights |
Digi ' Ends On A High Outperform (Upgraded) Results/Briefing Note - DiGi's reported FY11 net profit of RM1.25bn (+6.5% yoy) exceeded our and consensus expectations, mainly due to a tax writeback of RM4.9m in 4Q. Management attributed this to approved tax incentives related to mobile broadband network facilities. |
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CDBCreated by kltrader | Oct 11, 2012
Created by kltrader | Oct 11, 2012