[%zNqf%] 
Research by TA
Buy – TP of MYR 4.78

“Clearer Skies Ahead ” 

SD Guthrie Berhad (SDG)’s 1QFY24 results came in below expectations. Excluding all exceptional items, the core net profit surged over 100% YoY to RM229mn, in tandem with a 6.7% increase in revenue. However, the core net profit represented only 15% and 16% of our and consensus' fullyear estimates, respectively, due to lower-than-expected margins.

Analyst(s):
Angeline Chin 
[%qkAv%]

$KLSE-SIMEPLT 
Research by TA
Buy – TP of MYR 4.78

“Clearer Skies Ahead ” 

SD Guthrie Berhad (SDG)’s 1QFY24 results came in below expectations. Excluding all exceptional items, the core net profit surged over 100% YoY to RM229mn, in tandem with a 6.7% increase in revenue. However, the core net profit represented only 15% and 16% of our and consensus' fullyear estimates, respectively, due to lower-than-expected margins.

Analyst(s):
Angeline Chin 
angelinechin@ta.com.my

$SIMEPLT / 5285 (SIME DARBY PLANTATION BERHAD)