Friday 26 Apr 2024
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KUALA LUMPUR (Aug 30): Seen facing sustained competition amid higher cost base, Sheikh Abdullah, analyst at Hong Leong Investment Bank, writes in a report.

* Avg selling price to remain relatively low due to global condom mkt consolidation

** Better volumes vs FY17 to be partially offset by higher costs

* FY2018 and FY2019 earnings ests cut by 29% and 30%

* PT cut to 1.37 ringgit from 1.97 ringgit, hold rating maintained

* Stock falls as much as 6.2% to lowest level since Dec. 2014

* NOTE: 4Q net income 2.9m ringgit vs 12.1m ringgit y/y

 

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