♦ 1H10 earnings above our estimates but within consensus forecasts. 6MFY10 core net profit of RM54.9m (ex one time price adjustment of RM7.6m) achieved 63.8% of our full year estimate of RM86m and 54.4% of street’s full year estimate on the back of stronger growth in the vehicle sales since the beginning of 2010. An interim dividend per share of 8 sen (less tax of 25%) was declared in the quarter, above the 6 sen (less tax of 25%) interim dividend per share declared in FY09.
APM Automotive Holdings Berhad : Strong Earnings Driven Mainly by Higher Margins - 19/08/2010
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