UMB earnings likely to remain flat

UMB reported a core net profit of RM42.9mil in the first half of financial year 2023, which came in at 42% of Kenanga’s full-year forecast and 44% of consensus full-year estimate, respectively.

PETALING JAYA: United Malacca Bhd’s (UMB) future earnings are likely to remain muted on flattish crude palm oil (CPO) prices and cost pressures, says Kenanga Research.

The oil palm planter has reported a core net profit of RM42.9mil in the first half of financial year 2023 (1H23), which came in at 42% of Kenanga’s full-year forecast and 44% of consensus full-year estimate respectively.