1Q10 net profit grew 98.1% yoy.
1QFY12/10 net profit of RM14.4m (+98.1% yoy) accounted for 15.0% and 14.6% of our and consensus fullyear estimates respectively. We consider this to be in line with expectations as we expect higher property revenue in the 2HFY10. We also expect the IFM overseas contribution, especially from India, to be higher in subsequent quarters, which would boost margins moving forward. As expected, no dividend was declared during the quarter.
Faber Group Berhad : Expect More Property Earnings In 2HFY10 - 6/5/2010
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