UMB earnings likely to remain flat

TheStar Thu, Dec 29, 2022 08:20am - 1 year View Original


UMB reported a core net profit of RM42.9mil in the first half of financial year 2023, which came in at 42% of Kenanga’s full-year forecast and 44% of consensus full-year estimate, respectively.

PETALING JAYA: United Malacca Bhd’s (UMB) future earnings are likely to remain muted on flattish crude palm oil (CPO) prices and cost pressures, says Kenanga Research.

The oil palm planter has reported a core net profit of RM42.9mil in the first half of financial year 2023 (1H23), which came in at 42% of Kenanga’s full-year forecast and 44% of consensus full-year estimate respectively.

“We deemed the results as below expectation, expecting weaker earnings ahead.

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