Stock Name: QL
Company Name: QL RESOURCES BHD
Where are the fish?
In line, earnings uptrend continues. 1HFY12 net profit of RM65.8m (+10% YoY) made up 46% of our full-year forecast and 45% of consensus. In 2QFY12, the group's net profit grew 15.1% YoY to RM38m. We expect the uptrend in earnings to continue into 2HFY11, hence, we maintain our forecasts for a 14.6% growth in core net profit for FY12. Our DCF-based TP of RM3.39 is also unchanged.
Maybank research (22 November 2011)
Click here for full report ''
Company Name: QL RESOURCES BHD
| Research House: MAYBANK | Price Call: BUY | Target Price: 3.39 |
Where are the fish?
In line, earnings uptrend continues. 1HFY12 net profit of RM65.8m (+10% YoY) made up 46% of our full-year forecast and 45% of consensus. In 2QFY12, the group's net profit grew 15.1% YoY to RM38m. We expect the uptrend in earnings to continue into 2HFY11, hence, we maintain our forecasts for a 14.6% growth in core net profit for FY12. Our DCF-based TP of RM3.39 is also unchanged.
Maybank research (22 November 2011)
Click here for full report ''
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