[%bZtB%] 
Research by Mplus
Sell – TP of MYR 0.54

“Softer 3Q Due To Higher Overall Expenses” 

Nova Wellness Group Berhad (NOVA) 3QFY24 recorded a core PAT of RM1.8m (-39.8% QoQ, -37.3% YoY), which bring the sum to RM7.5m for 9MFY24 (-30.7% YoY). The core earnings came in below expectations, amounting to 58% and 49% of ours and consensus estimates of RM RM13.0m and RM15.4m. Key deviations was mainly due to (i) lower-than-expected revenue and (ii) higher-than-expected selling and distribution expenses.

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

$KLSE-NOVA 
Research by Mplus
Sell – TP of MYR 0.54

“Softer 3Q Due To Higher Overall Expenses” 

Nova Wellness Group Berhad (NOVA) 3QFY24 recorded a core PAT of RM1.8m (-39.8% QoQ, -37.3% YoY), which bring the sum to RM7.5m for 9MFY24 (-30.7% YoY). The core earnings came in below expectations, amounting to 58% and 49% of ours and consensus estimates of RM RM13.0m and RM15.4m. Key deviations was mainly due to (i) lower-than-expected revenue and (ii) higher-than-expected selling and distribution expenses.

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

$NOVA / 0201 (NOVA WELLNESS GROUP BERHAD)