2QFY10 results preview. TNB will release its 2QFY10 results on 20 Apr. Ex-forex gains (about RM150-200m), we estimate 2Q core net profit could be up by low-mid single digit qoq and flat yoy (1Q10: RM751m; 2Q09: RM791m), which would bring 1H core net profit to around 52-53% of our revised FY10 net profit forecast and around 51-52% of consensus estimates.
Tenaga Nasional Berhad : Improving Demand Helps Support Bottomline - 19/04/2010
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