Stock Name: IOICORP
Company Name: IOI CORPORATION BHD
Source: ECMNewz Bits 24 February 2012 and view the original report at here
Company Name: IOI CORPORATION BHD
| Research House: ECMLIBRA | Price Call: BUY | Target Price: 4.64 |
IOI Corp's 1HFY12 adjusted net profitsof RM1,041m came in within 54% of house and 49% of consensus estimates. For1HFY12, plantations boosted profits by growing 37% y-o-y, due to higher CPO ASPand FFB production. The manufacturing segment remained profitable, but profitsonly grew 2%. The group achieved CPO ASP of RM3,032/mt for the quarter (+18%y-o-y). An interim dividend of 7 sen per share was declared. We upgrade ourearnings for FY12-FY14 by 11%-19%, but we revise downwards our TP to RM4.64.Downgrade from Trading Buy to HOLD.
Source: ECMNewz Bits 24 February 2012 and view the original report at here
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