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NewsOSK raises forecast, maintains 'buy' call on Bonia
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OSK raises forecast, maintains 'buy' call on Bonia
by hlk Mon 29 Aug 2011, 19:04
OSK Research has raised Bonia Corporation Bhd's financial year 2012 earnings forecast by 6.4 per cent to RM49.6 million,
given the company's fine performance in its last financial year ended June 30, 2011.
The research firm also introduced Bonia's financial year 2013's net profit forecast at RM58.9 million.
In a statement today, OSK Research said while the company could be hit if economic conditions worsen, given its focus on the higher end of the consumer market, it may fare better than in the 2008/09 economic crisis.
"This is given the streamlining it has undertaken to minimise the impact to counter the previous sales slowdown," the research house said.
For the full year ended June 30, 2011, its pre-tax profit increased to RM57.538 million from RM45.455 million previously. Revenue rose to RM461.624 million from RM360.099 million previously.
Meanwhile, OSK Research maintained its "buy" call on Bonia with a higher fair value of RM2.71 versus RM2.54, previously. -- Bernama
given the company's fine performance in its last financial year ended June 30, 2011.
The research firm also introduced Bonia's financial year 2013's net profit forecast at RM58.9 million.
In a statement today, OSK Research said while the company could be hit if economic conditions worsen, given its focus on the higher end of the consumer market, it may fare better than in the 2008/09 economic crisis.
"This is given the streamlining it has undertaken to minimise the impact to counter the previous sales slowdown," the research house said.
For the full year ended June 30, 2011, its pre-tax profit increased to RM57.538 million from RM45.455 million previously. Revenue rose to RM461.624 million from RM360.099 million previously.
Meanwhile, OSK Research maintained its "buy" call on Bonia with a higher fair value of RM2.71 versus RM2.54, previously. -- Bernama
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