[%UPeJ%] 
Research by Public
Neutral - TP RM0.78

"Stronger Quarter"

Kumpulan Perangsang Selangor’s (KPS) reported a stronger core net profit of RM8.8m for 2QFY24, compared to a core net loss of RM4.8m in 1QFY24, primarily due to better performance from its manufacturing business. The cumulative core net profit for 1HFY24 stood at RM4.0m, which was below our and consensus estimates, accounting for only 26.2% and 27.2% of full-year estimates, respectively. However, we maintain our estimates, expecting improved performance in coming quarters driven by gradual demand recovery in consumer electronics and improved cost structure as the Group streamlined its operations in China. We retain our Neutral call on KPS with an unchanged TP of RM0.78.

Analyst:
Denny Oh
[%AxlT%]

$KLSE-KPS 
Research by Public
Neutral - TP RM0.78

"Stronger Quarter"

Kumpulan Perangsang Selangor’s (KPS) reported a stronger core net profit of RM8.8m for 2QFY24, compared to a core net loss of RM4.8m in 1QFY24, primarily due to better performance from its manufacturing business. The cumulative core net profit for 1HFY24 stood at RM4.0m, which was below our and consensus estimates, accounting for only 26.2% and 27.2% of full-year estimates, respectively. However, we maintain our estimates, expecting improved performance in coming quarters driven by gradual demand recovery in consumer electronics and improved cost structure as the Group streamlined its operations in China. We retain our Neutral call on KPS with an unchanged TP of RM0.78.

Analyst:
Denny Oh
Oh.BoonYeow@publicinvestbank.com.my

$KPS / 5843 (KUMPULAN PERANGSANG SELANGOR BERHAD)