Tellimer

MY : EITA Resources Bhd - Feeling the heat from the cooling economy?

EITA Resources’s 1HFY9/21 core net profit came up to only 46% of our full-year projection, as its operating costs increased beyond its sales. EITA looked to be feeling the heat from the economic slowdown. Its service division’s 2QFY21 pre-tax profit fell by 31.9% yoy due to fewer repair jobs. Our TP falls to RM1.86 as we widen our discount to elevator manufacturers’ average P/E of c.30x – from 30% to 40% – on risks of Covid-19 for EITA.


Most Viewed See latest
Disclosures

This publication is being distributed by Tellimer solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not con...

Full Tellimer disclaimers