PETALING JAYA: IOI Corp Bhd
got off to a strong start, with a core net profit of RM618.5mil in the first quarter of the financial year 2023 (1Q23), up 4.6% quarter-on-quarter (q-o-q) and 43.3% year-on-year.
Analysts, however, generally warned of softer quarterly earnings ahead for the group as crude palm oil (CPO) is likely to undergo further price corrections.
According to Kenanga Research, IOI’s 1Q23 core net profit came in at 31% and 41% of its full year forecast and the full year consensus estimate, respectively.
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