MBSB Research said it has kept its earnings projections unchanged.
PETALING JAYA: Stronger quarters are envisaged for Tasco Bhd
, given improved contributions from its new warehouse and substantial tax savings recognition once investments under the integrated logistics services tax incentives are approved, says MBSB Research.
The logistics group posted a net profit of RM19.9mil for the first quarter of financial year 2026 (1Q26), up 30.68% year-on-year, thanks to stronger earnings contribution from its international business solutions (IBS) segment.
MBSB Research, formerly MIDF Research, said Tasco’s 1Q26 results had met its expectations, with margin recovery starting to take shape.
“We have kept our earnings projections unchanged.
‘We anticipate further improvement in the contract logistics segment this financial year, driven by recent additions to its customer base.”
Notably, the logistics-based group is largely shielded from tariff-related risks, with the US-bound volumes accounting for less than 5% of its total revenue.
The research house had maintained a “buy” call on the stock with an unchanged target price of 68 sen.
Meanwhile, RHB Research, in a note to clients, said better performance in the group’s IBS segment was dragged by weaker domestic business solutions (DBS) segment in 1Q26.
It noted 1Q26 core profit was also missed on a weaker DBS segment due to slower volume and higher costs.
However, the research house said it remained optimistic for stronger quarters ahead on improved contributions from the new warehouse and substantial tax savings.
For now, RHB Research had made no changes to its forecasts on Tasco, pending the group’s upcoming analysts briefing.
“At this juncture, we remain upbeat for the upcoming quarters of financial year 2026 (FY26), driven by volume recovery, stronger contributions from new warehouses, and higher tax savings,” the research house noted.
RHB Research has kept a “buy” call on the stock with a target price of 86 sen.
