[%eOLE%] 
Research by HLIB
Buy - TP RM1.14

"Double digit growth"

FocusP’s chalked in core PAT of RM8.4m (+13% QoQ; +16% YoY) which brought 1H24 sum to RM15.9m (+19% YoY). This is broadly in line with our/consensus estimates at 42%/44% respectively, as we expect a stronger 2H24. Overall, both optical and F&B segments performed well this quarter registering double digit sales growth YTD. We gather that the group opened three new optical outlets in 2Q24 and targets to open five more by end of FY24. On F&B, we applaud the turnaround registered this quarter and opine the positive momentum will continue. Sales for its main corporate client has been robust with increase in monthly revenue contribution coupled with uptick in number of SKUs. Maintain BUY unchanged TP of RM1.14 pegged to 14x PE on FY25 EPS.

Analyst:
Syifaa’ Mahsuri Ismail
[%Rcxl%]

$KLSE-FOCUSP 
Research by HLIB
Buy - TP RM1.14

"Double digit growth"

FocusP’s chalked in core PAT of RM8.4m (+13% QoQ; +16% YoY) which brought 1H24 sum to RM15.9m (+19% YoY). This is broadly in line with our/consensus estimates at 42%/44% respectively, as we expect a stronger 2H24. Overall, both optical and F&B segments performed well this quarter registering double digit sales growth YTD. We gather that the group opened three new optical outlets in 2Q24 and targets to open five more by end of FY24. On F&B, we applaud the turnaround registered this quarter and opine the positive momentum will continue. Sales for its main corporate client has been robust with increase in monthly revenue contribution coupled with uptick in number of SKUs. Maintain BUY unchanged TP of RM1.14 pegged to 14x PE on FY25 EPS.

Analyst:
Syifaa’ Mahsuri Ismail
syifaa@hlib.hongleong.com.my

$FOCUSP / 0157 (FOCUS POINT HOLDINGS BERHAD)