Kossan's 1H Performance Was Below Expectation
Kossan's 1H Performance Was Below Expectation
Kossan Rubber Industries Berhad has seen its target price revised to RM1.89 from RM2.45 following its 2QFY24 results announcement. The analysts have maintained a NEUTRAL stance on the company amidst ongoing challenges in the sector, including a slow recovery in demand and persistent supply-demand imbalance.
科尚橡膠工業有限公司的目標價格從2.45馬幣調整爲1.89馬幣，基於其2QFY24的業績公告。分析師在行業持續面臨挑戰的背景下對該公司保持中立觀望態度，包括需求復甦緩慢和持續的供需失衡。
Analysts from Kenanga, MIDF and Maybank have downgraded their recommendations, with one analyst maintaining an UNDERPERFORM rating and adjusting the target price to RM1.56 from RM1.48. This reflects concerns over the sector's overcapacity and competitive pressures, which continue to impact Kossan's performance.
肯納加證券、MIDF證券和馬來亞銀行的分析師已經下調了他們的建議，其中一位分析師保持了WEAK表現評級，並將目標價格從1.48馬幣調整爲1.56馬幣。這反映出對行業產能過剩和競爭壓力的擔憂，這些因素繼續影響着科尚的業績。
For 2QFY24, Kossan reported a core net profit of RM27.3 million, reversing a loss of RM2.8 million from the previous year. This improvement was supported by a revenue increase of 10.9% year-on-year, reaching RM429.9 million. However, the first half FY24 earnings of RM52.0 million fell short of expectations, covering only 36.1% of the full-year estimates.
對於2QFY24，科尚報告了2,730萬馬幣的核心淨利潤，相較於上一年的280萬馬幣虧損。這一改善得到了營業收入增長10.9%的支持，達到了42,990萬馬幣。然而，上半財年24的收益達到了5,200萬馬幣，低於預期，僅達到全年估計的36.1%。
Despite the current challenges, Kossan is expected to remain profitable. Analysts project a slow recovery in demand and ongoing competitive pressures, which may limit growth prospects in the near term. The company is anticipated to continue its profitability through strategic adjustments and cost efficiency measures.
儘管面臨當前的挑戰，科尚預計將保持盈利能力。分析師預測需求復甦緩慢以及持續的競爭壓力可能會限制短期內的增長前景。該公司預計將通過戰略調整和成本效益措施繼續實現盈利能力。