Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


Hong Leong: UMW Holdings 1Q profit in line

Bursa Community :: Community News

Go down

Hong Leong: UMW Holdings 1Q profit in line Empty Hong Leong: UMW Holdings 1Q profit in line

Post by Cals Tue 27 May 2014, 00:36

Hong Leong: UMW Holdings 1Q profit in line
Business & Markets 2014
Written by Chong Jin Hun of theedgemalaysia.com   
Monday, 26 May 2014 10:55

KUALA LUMPUR (May 26): Diversified entity UMW Holdings Bhd's profit in the first quarter ended March 31, 2014 (1QFY14) was in line with market forecast, according to Hong Leong Investment Bank Bhd.

In a note today, Hong Leong analyst Daniel Wong said UMW Holdings' core net profit of RM211.8 million in 1QFY14 accounted for 26.3% and 22.4% of Hong Leong's and consensus full-year forecast respectively.

Last Friday, UMW Holdings reported that 1QFY14 net profit rose 7% to RM235.5 million from RM219.7 million a year earlier. Bottom line growth came on higher profit from its automotive besides oil and gas  divisions.

UMW Holdings said revenue climbed to RM3.58 billion from RM3.36 billion.

Today, Hong Leong, which maintained its income forecast for UMW Holdings, has also retained its "buy" call for UMW Holdings shares. The recommendation comes with an unchanged target price of RM12.55.
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum