Lion Industries Corporation Bhd - Below expectations

Stock Name: LIONIND
Company Name: LION INDUSTRIES CORPORATION

Research House: HLG

Price Call: SELL

Target Price: 1.01

Lion Industries Corporation Bhd

Below expectations

• 1HFY06/12 reported net profit came in below our expectation, accountingfor only 39.2% of our full-year forecast.
• Key variance again our forecast was the lower-than-expected sales volumeat the steel manufacturing division.
• Earnings forecasts and SOP-derived TP of RM1.01 maintained for now,pending further update with management. 

Source: HLIB Research 28 Feb 2012