Mynews
Posted: Mon Dec 17, 2018 9:40 am
not vested
Waiting the next catalyst
Maintain HOLD
4QFY10/18 results came in within expectations.
Mynews opened 80 new stores in FY18, slightly short of Mynews’ internal target of 90 (total store count: 436).
As we expect a higher operating cost environment in the near-term, we lower our FY19/FY20 earnings forecast by 9%/6%.
Elsewhere, we expect its RTE food production facility to now be completed by end-1HCY19 (vs. end-1QCY19). Maintain HOLD with a lower TP of MYR1.33 (based on 27.6x CY19 PER; peer average).
Source: Kim Eng
https://factsetpdf.maybank-ke.com/PDF/1 ... 60d14a.pdf
Waiting the next catalyst
Maintain HOLD
4QFY10/18 results came in within expectations.
Mynews opened 80 new stores in FY18, slightly short of Mynews’ internal target of 90 (total store count: 436).
As we expect a higher operating cost environment in the near-term, we lower our FY19/FY20 earnings forecast by 9%/6%.
Elsewhere, we expect its RTE food production facility to now be completed by end-1HCY19 (vs. end-1QCY19). Maintain HOLD with a lower TP of MYR1.33 (based on 27.6x CY19 PER; peer average).
Source: Kim Eng
https://factsetpdf.maybank-ke.com/PDF/1 ... 60d14a.pdf