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Higher profitability forecast for MCB

CGS-CIMB Research lifted its FY23 to FY25 earnings per share estimates for the company by 107%, 45% and 36%, respectively.

PETALING JAYA: Malayan Cement Bhd (MCB) could generate higher free cash flow (FCF) with better profitability in financial years 2024 (FY24) and FY25 and pave the way for a maiden dividend payout in 2024.

CGS-CIMB Research believes MCB could generate a FCF of RM687mil-RM691mil in FY24 and FY25, assuming capital expenditure is RM100mil per year. This translates to an FCF of 52 sen per share.

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