not vested
Kerjaya Prospek Group (KPG MK)
1Q20: In Line; Recovery In Sight
Kerjaya’s 1Q20 results came in broadly in line, at 23% at our full-year estimate.
Core net profit dropped 28% yoy due to the MCO from mid-Mar 20.
To be conservative, we revise down our 2020 earnings forecast.
Most of its projects have resumed since May 20, with all active projects having reached 90% of pre-MCO levels.
Positively, it is upbeat about clinching new jobs worth more than RM1.3b (ytd, it has won RM1b new contracts) in 2020, driven by the private sector.
Maintain BUY with a higher target price of RM1.39.
Source: UOBKH
https://research.uobkayhian.com/content ... e9fc80f830