KUALA LUMPUR: Carlsberg Bewery Malaysia Bhd has presented itself as a recovery play as it continues to trade at below-mean valuations, says Kenanga Research following the brewer's release of its FY20 earnings results.
The research house said the group's FY20 core net profit of RM177mil came within 102% and 101% of its and consensus forecasts respectively while the declared dividend of 40 sen was above its expectation at a payout ratio of 70%.
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