$KERJAYA / 7161 (KERJAYA PROSPEK GROUP BERHAD)
Research by Kenanga
Outperform - TP RM2.24

"Looking to a Strong 2HFY24"

KERJAYA’s 1HFY24 results met expectations with 1HFY24 core profit growing 16% YoY to RM70.6m on higher construction billings and property sales. Its PAT margin slid to 9.6% from 10.1% in 1HFY23 given more progress billings due to a lower margin JV project with Samsung. We keep our forecast, TP of RM2.24 and OUTPEFORM call.

Analyst:
Teh Kian Yeong
tehky@kenanga.com.my