Advertisements

Expecting a ramp-up in production in 4Q21F

■ 9M21 core net profit of RM6.0m was above expectations (+12.8% yoy) as we project stronger 4Q21F results from an increase in overall sales.
■ We expect LSK to record stronger earnings from 4Q21F onwards, backed by: i) higher sales volume, ii) price increases, and iii) better economies of scale.
■ Reiterate Add, with a higher TP of RM1.84 (13x CY23F P/E).

Advertisements