Stock Name: WCT
Company Name: WCT BHD
Research House: OSK
Company Name: WCT BHD
Research House: OSK
OSK Research has maintained a 'buy' call on WCT Bhd, saying, the core earnings of the company would have been above its expectations by 27 per cent, if the RM36 million provision for Bakun was added back. For the full financial year 2010, earnings totalled RM141.2 million.
"Management said there was a RM36 million provision for Bakun for the fourth quarter compared to its earlier guidance of only RM10 million and if the RM36 million was added back, its core earnings would stand at RM177.2 million," it said in a research note today.
OSK left earnings estimates unchanged for now, pending further takeaways from an analysts' briefing today, it said, adding that earnings adjustments would be on the upside. It also said the Middle East unrest had minimal impact on WCT. -- Bernama
"Management said there was a RM36 million provision for Bakun for the fourth quarter compared to its earlier guidance of only RM10 million and if the RM36 million was added back, its core earnings would stand at RM177.2 million," it said in a research note today.
OSK left earnings estimates unchanged for now, pending further takeaways from an analysts' briefing today, it said, adding that earnings adjustments would be on the upside. It also said the Middle East unrest had minimal impact on WCT. -- Bernama
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