[%JpUe%]
Research by Kenanga
Outperform – TP RM3.37

“Recovery Turning to High Gear"

DIALOG's results beat expectations for the second time in FY24 due to the strong performance of is specialist product segment. Its FY24 core net profit was driven by lower finance costs and improvement in specialist product top line. Its earnings remain on an upward trajectory, underpinned by improving EPCC margins as cost pressures ease. We raise our FY25F net profit forecast by 5%, lift our TP by 4% to RM3.37 (from RM3.23) and maintain our OUTPERFORM call.

Analyst:
Lim Sin Kiat, CFA 
[%dbFQ%]

$KLSE-DIALOG
Research by Kenanga
Outperform – TP RM3.37

“Recovery Turning to High Gear"

DIALOG's results beat expectations for the second time in FY24 due to the strong performance of is specialist product segment. Its FY24 core net profit was driven by lower finance costs and improvement in specialist product top line. Its earnings remain on an upward trajectory, underpinned by improving EPCC margins as cost pressures ease. We raise our FY25F net profit forecast by 5%, lift our TP by 4% to RM3.37 (from RM3.23) and maintain our OUTPERFORM call.

Analyst:
Lim Sin Kiat, CFA 
limsk@kenanga.com.my