Bursa Malaysia Stock Watch

Guinness Anchor: Maintain Hold - Dividend Dilemma

kltrader
Publish date: Wed, 29 Aug 2012, 09:34 AM
kltrader
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  • Impressive growth, results in line, but priced-in. Guinness' FY6/12 net profit grew 14% on revenue growth of 9%. Full-year results were within our expectation and consensus.
  • However, valuations are fair and there is no indication the company will take on more gearing to boost dividends. We keep our Hold call with a raised target price of RM14.50.
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Source: Maybank Research - 29 August 2012
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