KUALA LUMPUR: CIMB Equities Research said IOI Corporation Bhd 1QFY6/16 core net profit (excluding forex translation loss) accounted for 14% of its full-year forecast and 12% of consensus estimates.
“We consider the results to be broadly in line as we expect stronger earnings in future quarters due to higher crude palm oil (CPO) prices and some recovery of its derivatives losses. Reported net profit was below due to forex translation losses of RM854mil on its foreign debts due to the weaker ringgit,” it said on Tuesday.