Econpile: Econpile’s 1QFY15 results were within our and consensus expectation accounted 25.8% and 20.8% respectively of full-year earnings projection. In tandem with 6.5% increase in top-line to RM106.3m and better margin of 12.5% this quarter, net earnings improved by 49.0% to RM9.5m compared to RM6.4m in 4QFY14. With outstanding orderbook in hand stands approximately at RM600m, we believe the Group is on the right track to achieve our FY15 earnings forecast of RM36.9m. Having said that, we are maintaining our FY15/16 earnings forecast and target price at RM0.91 for Econpile. We upgrade our call to Neutral from a take-profit rating previously.
Posted on: Mon, 01 Dec 2014 01:07:12 +0000
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