Targets and outlook for corporate profits in Malaysia trimmed
“In line with the high number of earnings misses, we have lowered earnings forecasts for half (51%) of our universe, upgraded on just 9%," Maybank IB Research said.
PETALING JAYA: The weak third quarter corporate earnings surprised many brokers for the missed estimates and signalled a step back in the earnings growth of the companies in the FBM KLCI this year.
The poor showing by corporate Malaysia in the third quarter has prompted many research houses to trim their targets and outlook for earnings as they take a cautious stance for 2019.
CGS-CIMB said corporate earnings for the third quarter (Q3’18) fell 5.9% year-on-year (y-o-y), due to weaker performances from the agribusiness, construction, oil and gas, and gaming sectors.
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