[%vtZo%] 
Research by Kenanga
OUTPERFORM – TP RM6.00

" Good 1Q Earnings”

UMCCA’s 1QFY25 results came in within expectations. Core net profit rose as its strong Malaysian harvest recovery, firm CPO prices and easier cost offset unusually poor Indonesian yields. FY25 earnings outlook still appears positive as we expect CPO prices to hold with cost remaining easy and the group’s Indonesian yields to eventually recover. We maintain our FY25-26F core net profit, TP of RM6.00 and OUTPERFORM call.

Analyst:  
Khoo Teng Chuan
[%hZCX%]

$KLSE-UMCCA 
Research by Kenanga
OUTPERFORM – TP RM6.00

" Good 1Q Earnings”

UMCCA’s 1QFY25 results came in within expectations. Core net profit rose as its strong Malaysian harvest recovery, firm CPO prices and easier cost offset unusually poor Indonesian yields. FY25 earnings outlook still appears positive as we expect CPO prices to hold with cost remaining easy and the group’s Indonesian yields to eventually recover. We maintain our FY25-26F core net profit, TP of RM6.00 and OUTPERFORM call.

Analyst:  
Khoo Teng Chuan
khootc@kenanga.com.my