PETALING JAYA: Taliworks Corp Bhd
, which posted an almost 70% fall in net profit for the third quarter ended Sept 30, 2022 (3Q22), is set for a rebound in earnings in the near term.
RHB Research, which is maintaining its “buy” call on Taliworks, said it continues to favour the stock for its defensive earnings base, attractive yields and new income stream from solar assets.
“Post 3Q22 results, we are revising our financial year 2022 (FY22) to FY24 earnings by minus 6%, minus 4% and minus 2% to reflect a lower share of associate’s performance from SWM Environment (its waste management arm) that will persist due to a higher dividend paid on preference shares,” said RHB Research.
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