UWC

HLIB Research said UWC's core net profit of RM23mil for the first quarter ended Oct 31, 2022, missed expectations, accounting for only 18% of the research ...

Following the results and considering the prospects of UWC, HLIB Research has lowered its forecast core profit after tax and minority interest for the company by 9% for FY23-FY25. HLIB Research said UWC’s core net profit of RM23mil for the first quarter ended Oct 31, 2022 (1Q23), had missed expectations, accounting for only 18% of the research house’s and consensus forecasts for the full financial year ending July 31, 2023 (FY23). The revision was to reflect its downward earnings revision for UWC, HLIB Research said, adding that its target price for the company was still pegged to 34 times of estimated earnings for 2023.