PETALING JAYA: It is only March but local equity analysts have already slashed their full-year profit forecast after Corporate Malaysia delivered yet another disappointing quarter.

Affin Hwang Capital Research, in a strategy report yesterday, called the recently concluded earnings reporting season as “among the worst” it had seen in recent years.

Analysts said huge earnings misses in the plantation, telecommunications, transport and utilities sectors during the October-December quarter dragged the market’s earnings per share (EPS) growth into negative territory for 2018.

DBS Group Research said most of the large-cap companies have also been adopting a more cautious stance on the 2019 outlook, guiding for a more measured earnings growth. This has prompted the firm to revise down its earnings forecast for the year.

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