Analyst Research Report Snapshot

Title:

Results Note – Ann Joo Resources (ADD, maintain) - Impacted by start up cost

Price:

$23.00

Provider:

Affin Investment Bank

Date:

10 Oct 2012

Pages:

3

Type:

AcrobatPDF

Companies referenced:

ANNJ.KL

Available for Immediate Download
Summary:

Ann Joo’s 1H12 core net profit of RM5m came in below ours and consensus estimates of RM58.5m and RM89.3m net profit respectively. Our core net profit excludes loss on forex (RM27.8m), reversal of allowence for inventories written down (RM9.3m), gain on property disposal (RM2.7m) and gain on forex (RM4.8m). As expected, no dividend was declared during the quarter.

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