In line with our forecast, but below market expectations. 1QFY12/10 reported net profit of RM38.3m, which accounted for 30% of our full-year forecast. However, we consider the results within our expectation as Puncak’s operating costs were traditionally lower in 1Q. As against the market expectations, the results came in below, at only 23% of the full-year market consensus.
Puncak Niaga Holdings Berhad :1QFY12/10 Net Profit Declines On Higher Expenses-27/05/2010
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