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aws全区号(www.2km.me)_Robust demand keeps Evergreen on growth path

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In a report, Hong Leong Investment Bank (HLIB) Research said the robust demand and rising average selling prices in the panel boards and furniture market are expected to outweigh the near-term challenges

KUALA LUMPUR: Evergreen Fibreboard Bhd is likely to continue its earnings growth momentum following a commendable third quarter 2021 (Q3’21) result, despite rising raw material costs.

In a report, Hong Leong Investment Bank (HLIB) Research said the robust demand and rising average selling prices in the panel boards and furniture market are expected to outweigh the near-term challenges

“With the expected turnaround in its Malaysia segment in Q4’21 and sustained positive contributions from its regional operations supported by the highlighted reasons, we believe that Evergreen is on track to deliver commendable results in Q4’21 with earnings growth momentum sustaining in FY’22,” it said.

Rubber wood costs have increased across all three of the group’s operating countries, with Malaysia experiencing a more pronounced increase due the flood and rainy season. Glue prices, meanwhile, have risen more than 30% due to the increased fertiliser usage in oil palm plantations, which resulted in higher urea prices.Finished fibreboard ready for export.

HLIB expected raw material prices to start normalising once the weather conditions improve while glue costs may have peaked and may start easing from February 2022.

The group’s application for foreign labour intake should provide upside to the group’s ready-to-assemble segment, it added. HLIB maintained its “buy” call on Evergreen Fibreboard with an unchanged target price of 67 sen per share.


转载说明:本文转载自Sunbet。

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