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Research by CGS
Add - TP RM2.20

"Exports decline drags 1QFY25 earnings"

■ PWRT’s 1QFY25 core net profit of RM7.3m came in below our/Bloomberg consensus full-year estimates at 13%/14%.
■ Improved economic activity in Malaysia will help to support PWRT’s sales and earnings growth throughout FY25F, in our view.
■ Maintain Add with unchanged TP of RM2.20. We think valuations are attractive as it currently trades 1 s.d. below its 10-year mean P/E of 19x.

Analyst:
LEW Cheng Wei
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Prem JEARAJASINGAM
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$KLSE-PWROOT
Research by CGS
Add - TP RM2.20

"Exports decline drags 1QFY25 earnings"

■ PWRT’s 1QFY25 core net profit of RM7.3m came in below our/Bloomberg consensus full-year estimates at 13%/14%.
■ Improved economic activity in Malaysia will help to support PWRT’s sales and earnings growth throughout FY25F, in our view.
■ Maintain Add with unchanged TP of RM2.20. We think valuations are attractive as it currently trades 1 s.d. below its 10-year mean P/E of 19x.

Analyst:
LEW Cheng Wei
chengwei.lew@cgsi.com
Prem JEARAJASINGAM
prem.jearajasingam@cgsi.com