$RANHILL / 5272 (RANHILL UTILITIES BERHAD)
Research by MIDF
SELL – TP RM1.07

" Weighed by Profit Reversal”

• 1HFY24 result missed expectations, down -12.6%yoy to RM20.3m
• Bottom line dragged by RM8m profit reversal from Ranhill Worley
• Expect better earnings in coming quarters due to higher domestic
water tariff and stronger non-domestic demand
• Maintain SELL with an unchanged TP of RM1.07.

Analyst:
Royce Tan Seng Hooi
royce.tan@midf.com.my