In line. 1QFY12/10 reported core net profit of RM22.6m came in at 27.1% of our full-year consensus. However, we consider this within our expectation as we expect Kinsteel’s performance to weaken in 2H on the back of weaker restocking activities arising from weaker price outlook. As against the market expectations, the results came in below, accounting for only 22.0% of the full-year market consensus.
Kinsteel Berhad : In Line; Anticipating Weaker 2H-26/05/2010
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