Above expectation. Evergreen’s 1HFY12/10 net profit of RM69.6m came in above our and consensus expectations, accounting for 64% of our and 63% of consensus expectations respectively. Key variances to our earnings were higher average selling price and better EBIT margin (17.3% in 1HFY12/10 vs. our full year forecast of 14.1%) arising from improved efficiency. As expected, 2 sen interim tax-exempt dividend was declared during the quarter, bringing total dividend declared YTD to 4 sen.
Evergreen Fibreboard Berhad : Stellar Results Due To Higher ASP And Improved Efficiency -17/08/2010
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