PETALING JAYA: AmInvestment Bank Research has cut its earnings forecast for PADINI HOLDINGS BHD
on expectations of a weak quarter ahead due to the movement control order (MCO) shutdown.
“We have cut our earnings forecast by 11% for financial year 2020 (FY20), 13% for FY21 and 16% for FY22 to account for the adverse impact of the Covid-19 pandemic, ” it said.
However, the research house, which has maintained its “buy” recommendation on the counter, said sales would have started to pick up during the conditional MCO.
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