[%EsRs%] 
Research by Malacca Securities
Hold (from Sell) - TP of RM0.57

"Within Expectation And Gradual Pick Up In House Brand"

Nova Wellness Group Berhad (NOVA) 2QFY24 core PATMI came in at RM3.1m (+17.8% QoQ, -62% YoY), which bring the sum to RM5.7m for 1FY24 (-28.2% YoY). The core earnings came in within expectations, despite only amounting to 44% and 33% of ours and consensus estimates of RM13.0m and RM17.7m, respectively as we believe demand should pick up in 2H24.

Analyst(s):
Loui Low
[%gORF%]

$KLSE-NOVA 
Research by Malacca Securities
Hold (from Sell) - TP of RM0.57

"Within Expectation And Gradual Pick Up In House Brand"

Nova Wellness Group Berhad (NOVA) 2QFY24 core PATMI came in at RM3.1m (+17.8% QoQ, -62% YoY), which bring the sum to RM5.7m for 1FY24 (-28.2% YoY). The core earnings came in within expectations, despite only amounting to 44% and 33% of ours and consensus estimates of RM13.0m and RM17.7m, respectively as we believe demand should pick up in 2H24.

Analyst(s):
Loui Low
louilow@msec.com.my

$NOVA / 0201 (NOVA WELLNESS GROUP BERHAD)