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MAHB's FY17 earnings miss estimates

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KUALA LUMPUR (Feb 22): Malaysia Airports Holdings Bhd's (MAHB) net earnings for FY17 missed the expectations of research houses despite growing more than threefold from a year ago.


"It accounted for 71% and 83% of ours and consensus' expectations respectively," MIDF research said in a note today. It maintained its "buy" call on the stock with a target price of RM9.80.


CIMB Research said MAHB's FY17 core net profit was 33% below forecast. As for Affin Hwang Capital Research, the earnings came in 11% below consensus forecast.


"MAHB's 2017 result was below market and our expectations. We were surprised by the higher interest expense with the increase in debt," Affin Hwang said in note today.


Report:



Bursa Malaysia filing:




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