♦ 1QFY11 beats estimates ... AFG’s 1QFY03/11 net profit of RM111m (+43% qoq, +140% yoy) was ahead of our and consensus estimates, making up 28-29.3% of our and consensus full-year forecasts. The key variance was lower-than-expected allowance for impairment on loans. Pre-impairment profit, however, was within estimates.
Alliance Financial Group Berhad : Boosted By Low Impairment Allowance For Loans - 23/08/2010
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