♦ Below expectations. 9MFY09/10 net profit of RM22.9m was below our and consensus expectations, accounting for 71.1% and 55.8% of our fullyear and consensus forecast respectively. The key variance was due to:
1) higher-than-expected costs; and 2) stronger RM vs. US$.
Notion Vtec Berhad : Worse Than Feared - 06/08/2010
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