This is quoted from OSK Research released today:
"MBM Resources’ FY10 core net profit of RM141.6m was in line with our estimates. Core earnings growth surged 133.5% y-o-y driven by a topline growth of 40.4% y-o-y. With its associates’ profits doubling, the significant improvement in earnings was also boosted by healthy margins on the back of higher volume and efficiency achieved amid the strengthening Ringgit. A special dividend of 3 sen was announced, with full year dividend amounting to 13 sen a share, for a net yield of 4%. Maintain BUY at TP of RM5.00."
This blog is related to observations regarding stocks traded in Malaysia. Disclaimer: The company analysis that appear in this blog is merely facts gathered from different sources and the author's personal view. It is not a buy or sell recommendation. The author do not guarantee the accuracy of the facts being presented. Please consult your investment advisors before acting on any information provided by the analysis above.
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