[%RAUe%]
Research by Apex
Hold - TP RM1.82

"Driven by stellar retail and poultry segments"

• CCK’s 2QFY24 core net profit stood at RM20.8m (+2.5% qoq, +24.4% yoy), bringing 1HFY24 core net profit to RM42.2m (+28.2% yoy), came in line with ours and consensus’ expectations, accounting for 48.5% and 54.0% of ours and consensus forecasts respectively.
• As a result, we kept our earnings forecast unchanged.
• Re-iterate HOLD recommendation on CCK with a higher target price of RM1.82 by pegging at a higher P/E multiple of 13.0x to FY25F EPS of 14.0 sen.

Analyst:
Chelsea Chew
[%TMVr%]

$KLSE-CCK
Research by Apex
Hold - TP RM1.82

"Driven by stellar retail and poultry segments"

• CCK’s 2QFY24 core net profit stood at RM20.8m (+2.5% qoq, +24.4% yoy), bringing 1HFY24 core net profit to RM42.2m (+28.2% yoy), came in line with ours and consensus’ expectations, accounting for 48.5% and 54.0% of ours and consensus forecasts respectively.
• As a result, we kept our earnings forecast unchanged.
• Re-iterate HOLD recommendation on CCK with a higher target price of RM1.82 by pegging at a higher P/E multiple of 13.0x to FY25F EPS of 14.0 sen.

Analyst:
Chelsea Chew
chelsea.chew@apexsecurities.com.my

$CCK / 7035 (CCK CONSOLIDATED HOLDINGS BERHAD)