KUALA LUMPUR: Hwang DBS Vickers Research said the recovery for Green Packet has been delayed and it expects weak 4Q2010 results.
The research house said on Wednesday, Feb 2 it had slashed the earnings before interest, tax and amortisation (EBITDA) for Green Packet by 56% to 78%.
'Higher sales and marketing costs and declining average revenue per user could postpone EBITDA turnaround to later this year.'' Downgrade to Hold, TP cut to 80 sen (from RM1.40) based on sume of the parts,' said Hwang DBS Vickers Research.
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The research house said on Wednesday, Feb 2 it had slashed the earnings before interest, tax and amortisation (EBITDA) for Green Packet by 56% to 78%.
'Higher sales and marketing costs and declining average revenue per user could postpone EBITDA turnaround to later this year.'' Downgrade to Hold, TP cut to 80 sen (from RM1.40) based on sume of the parts,' said Hwang DBS Vickers Research.
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