Friday, November 4, 2011

OSK Research raises Guinness FV to RM14.20

KUALA LUMPUR (Nov 4): OSK Research has raised the fair value for GUINNESS ANCHOR BHD [] to RM14.20 and is maintaining its Buy rating.

It said on Friday, GAB reported earnings of RM55 million in the first quarter ended Sept 30, 2011, which was a 43% increase year-on-year and 90% quarter-on-quarter, which was in line with its expectations. GAB's Tiger brand is now the best selling beer, while Guinness and Heineken registered double-digit growth.

'With no excise duty hike announced in the recent Budget 2012, we expect continued growth in industry volume, with Euro 2012 being an added near-term kicker. We raise our FV to RM14.20 and maintain our BUY rating,' it said.

No comments:

Post a Comment