Bursa Malaysia Stock Watch

Lafarge Malayan Cement: Maintain Hold - Solid Results But All In The Price

kltrader
Publish date: Wed, 29 Aug 2012, 09:32 AM
kltrader
0 20,407
This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
  • Results within expectations. 2Q12 net profit of MYR82m (+27% QoQ, +6% YoY) lifted 1H12 net profit to MYR147m (+14% YoY). Though 1H12 made up 40-41% of our and the market's full-year forecasts, we expect a stronger 2H12 on the recent hike in gross ASP (+6%) and falling coal costs (-21% YTD).
  • We maintain our HOLD rating and TP of MYR8.60 (17x FY13 PER). Valuations are fair with a forward PER of 18x, but net dividend yield of 4.2% is still worth holding on for.
Click here for full report

Source: Maybank Research - 29 August 2012
Related Stocks
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment