InvestIdeas

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

not vested

No shortage of jobs for Kerjaya Prospek

This brings the company to 25% of its RM1.5bil job replenishment target and boosts total construction orderbook to RM4.7bil, which would give it earnings visibility of four years.

For 4QFY23, RHB expects KPG to post a net profit of RM33-36mil, which is a 23-35% increase year-on-year, on the back of higher progress billings and improved contribution from the property segment.

Source: The Star

https://www.thestar.com.my/business/bus ... ya-prospek