Bosca.
基本上這一季增長的業績都是從f&b那邊貢獻

f&b盈利也幾乎翻倍
食品需求一旦打開了市場 就很難下來了 穩
尤其是奶粉市場

如果每季保持這個盈利和股息 一年8sen
爽死了

跟著冷眼腳步

Able Global Berhad (AGB) reported a 125% YoY growth in 4QFY23 net profit to RM18.2m, driven by better performance from the F&B segment. After adjusting for non-core items, AGB’s core net profit stood at RM17.4, bringing the full-year FY23 core net profit to RM50m. Results were above our and consensus estimates, accounting for 111% and 117% respectively. The discrepancy in our numbers were mainly due to the stronger-thanexpected demand for dairy products. In view of this, we raise our forecast by 7-11% for FY24-24F. We continue to remain upbeat on AGB, as we believe that its earnings growth will be supported by the robust demand for dairy products, stronger contribution from its Mexico JV as well as the lower raw material costs. We maintain our Outperform call on AGB, with a higher SOTP-based TP of RM1.90, following our earnings adjustment.