Great results. BST's 3QFY12 net profit of RM112.7m (-2% YoY, +7% QoQ)
brought 9MFY12 net profit to RM310.5m (+27% YoY), within expectations at
76% of our FY12 estimate. 9MFY12 revenue of RM2.7b (+6% YoY) was also
in line, at 75% of our FY12 estimate. A third interim net DPS of 6sen
(22sen YTD) was declared, representing a net DPR of 95% (assumption:
75%). Maintain Buy and RM5.00 TP.
Maybank Research 22 March 2012
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