Above expectations. Cuscapi’s 1QFY10 net profit of RM0.71m (-4.5qoq, +42.3yoy) was above our expectations, accounting for 32.3% of our fullyear forecast. The variance was mainly due to:
1) higher contribution from China’s F&B as well as retail, hospitality and consulting services;
2) cost-cutting measures; and
3) higher contribution from its international businesses.
Cuscapi Berhad : Sluggish Outlook Ahead - 14/05/2010
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