MISC nine-month net profit up 48%

HLIB Research expects MISC’s crude oil shipping business and liquefied natural gas to post a slight improvement in 4Q23.

PETALING JAYA: MISC Bhd’s third quarter results have fallen short of analysts expectations, leading many to change their call recommendations and target price (TP) for the energy-based logistics player.

MISC posted a third quarter ended Sept 30, (3Q23) core net profit of RM465.1mil, bringing its nine months (9M23) core earnings to RM1.6bil, which was 48% higher year-on-year.