In line. Despite 1HFY12/10 core net profit of RM123.7m accounting for only 34.3-32.4% of our full-year forecast and the full-year market consensus, we consider this to be in line as we expect 2H10 to come in stronger on the back of: 1) Stronger domestic cement selling prices (recall, domestic cement prices were raised by 10% since May 10); and 2) Stronger domestic demand ahead arising from the rollout/resumption of several large-scale projects.
Lafarge Malayan Cement Berhad : Improved Due to Higher Domestic Prices - 26/08/2010
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