CGS-CIMB said as most of Bonia’s outlets were temporarily shuttered during the first four phases of the MCO, it expected a larger negative impact on Bonia’s sales in fourth quarter FY20 versus third quarter FY20.
PETALING JAYA: A faster-than-expected sales recovery is a key potential re-rating catalyst for fashion retailer Bonia Corp Bhd
, whose sales performance has been hampered by the Covid-19 outbreak, CGS-CIMB said in a report to clients.
The research house added that the group’s streamlining efforts for its overall operations should allow it to record a profitable financial year 2020 (FY20) and a better FY21 from a recovery in sales.
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