Earnings in line. BST's results were very much within expectations.
However, FY4/12 net DPS of 27sen was 29% or 4sen above our expectations.
Operations wise, it regained market share thanks to 4D Toto Jackpot.
All else being equal, FY4/13 earnings should be higher YoY due to full
year effect of 4D Toto Jackpot (FY4/12: 10½ months). Maintain BUY call
and DCF-based TP of MYR5.00.
Click here for full report
Source: Maybank Research - 19 June 2012
No comments:
Post a Comment