$QL / 7084 (QL RESOURCES BERHAD)
Research by MIDF
BUY – TP RM7.25

"FY25 Opens with Higher Sales and Earnings from CVS”

• 1QFY25 revenue up +1%yoy, core PATANCI surge 16%yoy; results within expectations
• Positive 1QFY25 earnings across all segments with the CVS segment achieving highest revenue
• Prospects further strengthened by egg cost subsidy, ceiling price mechanism, and new stores, farm and plant
• Maintain BUY with TP of RM7.25

Analyst:
MIDF Research Team
research@midf.com.my