Analysts upbeat on IOI Corp

Better performance: Worker in action at an IOI plantation in Johor. Moving into FY24, the firm’s management expects an increase in fresh fruit bunch production through increased efficiency.

PETALING JAYA: Analysts are positive on IOI Corp Bhd’s latest financial year 2023 (FY23) results, which came in broadly within market expectations.

Hong Leong Investment Bank (HLIB) Research said it was a decent finish to the financial year for IOI, which posted a core net profit of RM1.48bil in FY23, accounting for 103.8% to 104.9% of both its and consensus estimates.