PETALING JAYA: Independent power producer Malakoff Corp Bhd is expected to return to the black in the first quarter of financial year 2024 (1Q24) on the back of improvement in negative fuel margins, according to TA Research.
The research house expects the group to record a core profit of RM60mil to RM70mil during the period compared with RM99.3mil in 1Q23 and RM69.8mil in , representing 22%-25% of the brokerage’s full-year forecast.
For 4Q23 ended Dec 31, Malakoff posted a net loss of RM357.12mil compared with a net profit of RM41.86mil a year ago.
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