4QFY03/10 results within expectations. RCE’s 4QFY03/10 net profit of RM22.8m (+23% yoy; +9% qoq) was within our and consensus expectations with FY10 net profit to RM81.1m (+21.8% yoy) accounting for 102.5-103.5% of our and consensus net profit forecasts. Note that 4QFY10 results include a RM6.6m charge for the group’s ESOS scheme, excluding which, FY10 net profit would have come in around 9-10% ahead of our and consensus estimates.
RCE Capital Berhad : Strong Finish To The Year And Dividends Surprises -27/05/2010
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