Re: Top Glove
Posted: Wed Jun 19, 2019 9:10 am
not vested
Top Glove (TOPG MK)
3QFY19: Below Expectations; Prospects To Improve
Core profit of RM75m in 3QFY19 came in below expectations.
The spike in latex prices had a steeper-than-expected impact to margins.
We expect the cost pass-through mechanism’s lagged effect and stabilised latex prices to translate into better margins in 4QFY19.
In China, operations continued to be affected by normalising supply.
Maintain HOLD with a lower target price of RM4.60 (from RM4.70). Entry price: RM4.20.
Source: UOBKH
https://research.uobkayhian.com/content ... 8443c155e4
Top Glove (TOPG MK)
3QFY19: Below Expectations; Prospects To Improve
Core profit of RM75m in 3QFY19 came in below expectations.
The spike in latex prices had a steeper-than-expected impact to margins.
We expect the cost pass-through mechanism’s lagged effect and stabilised latex prices to translate into better margins in 4QFY19.
In China, operations continued to be affected by normalising supply.
Maintain HOLD with a lower target price of RM4.60 (from RM4.70). Entry price: RM4.20.
Source: UOBKH
https://research.uobkayhian.com/content ... 8443c155e4