Equity Analysis /

MY : Oceancash Pacific Bhd - Recovery likely after near-term disruptions

    2 September 2021
    Published byCGS-CIMB

    1H21 core net profit of RM2.6m (+46.3% yoy) came in below expectations, mainly due to weaker-than-expected sales for its hygiene segment. While the near term is likely to be affected by disrupted end-demand and workforce limitations, we project a strong recovery from end-Sep 21 onwards. We reiterate our Add call with a slightly lower TP of RM0.59.