Glomac ' Strong performance driven by better margins Market Perform
Results/Briefing Note
- 3QFY12 net profit came in above expectations. A 2.75 sen interim dividend was declared.
- In view of stronger profit margins, we raise our FY12-13 forecasts by 17-32%. We also revise up FY14 earnings projection by 25% to account for the contribution from the Sg Buloh land project.
- As we impute the value contribution from the Sg. Buloh land, our fair value is raised to RM0.96, based on an unchanged 35% discount to RNAV. Maintain Market Perform.
Source: RHB Research 23 March 2012
frankloh
Start to collect since last year
2012-03-23 16:30