TNB likely to continue improving earnings

Kenanga Research expects TNB’s earnings to improve further in the coming quarters on the back of tapering fuel costs.

PETALING JAYA: Analysts favour Tenaga Nasional Bhd (TNB), given its capability to generate good earnings despite the share price weakness of the counter.

Kenanga Investment Bank Research said the company’s core profit of RM1.02bil for its first quarter ended March 31, 2023 (1Q23) made up 21% each of both the securities firm’s full-year forecast and full-year consensus estimates.