Tellimer

MY : Hap Seng Plantations - A strong start amid rising CPO spot prices

1Q21 core net profit was above our expectations but in line with consensus, as it made up 34%/23% of our/Bloomberg consensus forecasts. The stronger results were due to higher-than-expected ASPs for palm products achieved in 1Q21 as well as lower operating costs. We raise our FY21F net profit forecast to account for higher CPO price assumptions and maintain our Add call with an unchanged TP of RM2.35.


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