Kawan Food first half net profit below expectations

Potential re-rating catalysts for the stock include higher-than-expected revenue from the new factory and strong export market sales.

PETALING JAYA: Kawan Food Bhd’s net profit in the first half ended June 30 was below CIMB Research’s and Bloomberg’s consensus expectations at 32% of full-year forecasts, mainly due to weaker-than-expected export sales.

The research house yesterday cut the company’s FY17-18F earnings per share (EPS) to reflect a slower export sales outlook.