Magnum

[winston]

vested

Magnum posts RM20 mil net profit for 3Q, declares one sen interim dividend

by Shazni Ong

Revenue jumped by seven-fold to RM509.02 million.

Net profit of RM20.07 million or 1.39 sen per share for the third quarter ended Sept 30, 2022 (3QFY2022), compared with RM29.91 million net loss or 2.08 sen per share,

Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... m-dividend

[winston]

vested

Another quarter of poor luck
Maintain HOLD with lower TP of MYR1.42 (-10%)

Earnings and dividends continue to disappoint on higher-than-expected prize payout ratio.

While prize payout ratio ought to normalise in the long term, we flag the risk that some outlets may be shut soon.

We lower earnings estimates by 4-16%.

Employing a higher WACC of 9.2% (8.6% previously) and rolling forward our valuation base year to end-FY23E from end-FY22E, we cut our DCF-based TP to MYR1.42 from MYR1.58.

Source: Maybank

https://mkefactsettd.maybank-ke.com/PDFS/291667.pdf