analyst report
KUALA LUMPUR: Kenanga research views Peronas Chemicals Group Bhd's strong 2Q19 results of RM1.12bil as not sustainable owing to heavy statutory turnarounds in 3Q19 to hit bottom-line.
The first-half earnings of RM1.92bil, which met 55% and 48% of Kenanga's and consensus full-year estimates was owing to a 40% quarter-on-quarter jump in net profit in 2Q from perfect plant utilisation.
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