High order book forecast to raise Kimlun’s earnings

PETALING JAYA: AmInvestment Bank (AmInvest) Research has raised Kimlun Corp Bhd’s forecast net profit by 9% for financial year 2023 (FY23) mainly due higher order book assumptions.

However, the research house reduced the group’s FY24 and FY25 earnings forecasts by 13% to 21% respectively to account for higher cost of sales, which is over 85% of its revenue.