In line. 1HFY06/10 net profit of RM125.7m came in at 55.2% of our fullyear forecast. We consider this within our expectation as we expect new ready-mixed concrete supply contracts in Singapore, which were locked in at much lower prices (to fill the vacuum left by its existing high-margin supply contract that is now at the tail end) will bring down YTLC’s overall margins, and hence the bottomline over the next few quarters.
YTL Cement Berhad : 2QFY06/10 Performance Weakens QoQ On Weaker Cement Sales; Weak Quarters Ahead - 01/03/2010
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