Bursa Malaysia Stock Watch

Kuala Lumpur Kepong: Maintain Hold - A Weak Quarter

kltrader
Publish date: Fri, 25 May 2012, 09:35 AM
kltrader
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Earnings forecasts trimmed. KLK's 2QFY9/12 core net profit of MYR215m (-40% QoQ, -9% YoY) met just 15% of our FY9/12 net profit forecast, and was also below street estimates. We trim our FY9/12-14 core net profit estimates by 3.5-4.6% on lower plantation and manufacturing contributions. Our revised TP is MYR21.10 (previously MYR21.90) on an unchanged 16x FY9/13 PER. Maintain HOLD.

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Source: Maybank Research - 25 May 2012
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