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Research by MIDF
NEUTRAL – TP RM1.04

" Stable Product Demand”

Hup Seng Industries (Hup Seng)’s 1HFY24 core PATANCI of RM23.4m (after excluding a one-time item of RM0.3m) came in within our full-year FY24F estimation and slightly above consensus at 44% and 50% respectively (historical 2H earnings ranged 40-45%), as we are cautiously optimistic about the volatility in CPO and sugar input costs. A dividend of 2 sen per share was declared during the quarter

Analyst:
MIDF Research
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$KLSE-HUPSENG 
Research by MIDF
NEUTRAL – TP RM1.04

" Stable Product Demand”

Hup Seng Industries (Hup Seng)’s 1HFY24 core PATANCI of RM23.4m (after excluding a one-time item of RM0.3m) came in within our full-year FY24F estimation and slightly above consensus at 44% and 50% respectively (historical 2H earnings ranged 40-45%), as we are cautiously optimistic about the volatility in CPO and sugar input costs. A dividend of 2 sen per share was declared during the quarter

Analyst:
MIDF Research
research@midf.com.my

$HUPSENG / 5024 (HUP SENG INDUSTRIES BERHAD)