Declared Dividend • May 29
Third quarter dividend of RM0.038 announced Shareholders will receive a dividend of RM0.038. Ex-date: 12th June 2026 Payment date: 29th June 2026 Dividend yield will be 6.4%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 2.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 15% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • May 28
Price target decreased by 11% to RM1.89 Down from RM2.14, the current price target is an average from 8 analysts. New target price is 32% above last closing price of RM1.44. Stock is down 30% over the past year. The company is forecast to post earnings per share of RM0.15 for next year compared to RM0.16 last year. Reported Earnings • May 28
Third quarter 2026 earnings released: EPS: RM0.061 (vs RM0.073 in 3Q 2025) Third quarter 2026 results: EPS: RM0.061 (down from RM0.073 in 3Q 2025). Revenue: RM624.5m (flat on 3Q 2025). Net income: RM60.5m (down 16% from 3Q 2025). Profit margin: 9.7% (down from 12% in 3Q 2025). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 16% per year. Buy Or Sell Opportunity • Apr 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 27% to RM1.44. The fair value is estimated to be RM1.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.5% over the last 3 years. Earnings per share has declined by 18%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 20% in the next 2 years. Buy Or Sell Opportunity • Mar 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to RM1.54. The fair value is estimated to be RM1.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.5% over the last 3 years. Earnings per share has declined by 18%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 21% in the next 2 years. Price Target Changed • Mar 03
Price target decreased by 7.8% to RM2.15 Down from RM2.33, the current price target is an average from 7 analysts. New target price is 17% above last closing price of RM1.84. Stock is down 1.1% over the past year. The company is forecast to post earnings per share of RM0.16 for next year compared to RM0.16 last year. Declared Dividend • Mar 01
Second quarter dividend of RM0.018 announced Dividend of RM0.018 is the same as last year. Ex-date: 12th March 2026 Payment date: 27th March 2026 Dividend yield will be 4.4%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 2.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 28
Second quarter 2026 earnings released: EPS: RM0.042 (vs RM0.065 in 2Q 2025) Second quarter 2026 results: EPS: RM0.042 (down from RM0.065 in 2Q 2025). Revenue: RM484.0m (down 7.9% from 2Q 2025). Net income: RM41.3m (down 36% from 2Q 2025). Profit margin: 8.5% (down from 12% in 2Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Declared Dividend • Nov 30
First quarter dividend of RM0.018 announced Shareholders will receive a dividend of RM0.018. Ex-date: 12th December 2025 Payment date: 26th December 2025 Dividend yield will be 4.6%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 2.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 29
First quarter 2026 earnings released: EPS: RM0.021 (vs RM0.012 in 1Q 2025) First quarter 2026 results: EPS: RM0.021 (up from RM0.012 in 1Q 2025). Revenue: RM401.1m (up 2.0% from 1Q 2025). Net income: RM20.4m (up 77% from 1Q 2025). Profit margin: 5.1% (up from 2.9% in 1Q 2025). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Nov 28
Padini Holdings Berhad Declares Second Interim Dividend in Respect of the Financial Year Ending 30 June 2026, Payable on December 26, 2025 Padini Holdings Berhad declared Second Interim Dividend of 1.8 sen per share (Single Tier Dividend) in respect of the financial year ending 30 June 2026. Ex-Date is December 12, 2025. Entitlement date is December 15, 2025. Payment Date is December 26, 2025. Reported Earnings • Oct 26
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: RM0.16 (up from RM0.15 in FY 2024). Revenue: RM1.94b (up 1.0% from FY 2024). Net income: RM154.8m (up 5.6% from FY 2024). Profit margin: 8.0% (up from 7.6% in FY 2024). Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Oct 23
Padini Holdings Berhad, Annual General Meeting, Nov 27, 2025 Padini Holdings Berhad, Annual General Meeting, Nov 27, 2025, at 10:00 Singapore Standard Time. Location: glenmarie ballroom, glenmarie hotel & golf resort malaysia, no. 1, jalan usahawan u1/8, seksyen u1, 40250 shah alam, selangor darul ehsan, Malaysia Reported Earnings • Aug 29
Full year 2025 earnings released: EPS: RM0.16 (vs RM0.15 in FY 2024) Full year 2025 results: EPS: RM0.16 (up from RM0.15 in FY 2024). Revenue: RM1.94b (up 1.0% from FY 2024). Net income: RM154.8m (up 5.6% from FY 2024). Profit margin: 8.0% (up from 7.6% in FY 2024). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Jun 05
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from RM2.01b to RM2.04b. EPS estimate increased from RM0.153 to RM0.179 per share. Net income forecast to grow 6.3% next year vs 8.9% growth forecast for Specialty Retail industry in Malaysia. Consensus price target up from RM2.20 to RM2.54. Share price rose 2.9% to RM2.12 over the past week. Declared Dividend • May 31
Third quarter dividend of RM0.028 announced Shareholders will receive a dividend of RM0.028. Ex-date: 13th June 2025 Payment date: 26th June 2025 Dividend yield will be 3.7%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 2.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • May 30
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to RM2.12. The fair value is estimated to be RM1.76, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 3.9%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 12% in the next 2 years. New Risk • Mar 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Buy Or Sell Opportunity • Feb 28
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 25% to RM1.69. The fair value is estimated to be RM2.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 4.8%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 21% in the next 2 years. Declared Dividend • Feb 27
Second quarter dividend of RM0.018 announced Shareholders will receive a dividend of RM0.018. Ex-date: 13th March 2025 Payment date: 28th March 2025 Dividend yield will be 5.7%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 26
Second quarter 2025 earnings released: EPS: RM0.065 (vs RM0.054 in 2Q 2024) Second quarter 2025 results: EPS: RM0.065 (up from RM0.054 in 2Q 2024). Revenue: RM525.6m (up 5.1% from 2Q 2024). Net income: RM64.3m (up 21% from 2Q 2024). Profit margin: 12% (up from 11% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to RM1.61, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Specialty Retail industry in Malaysia. Total loss to shareholders of 21% over the past three years. Major Estimate Revision • Dec 06
Consensus EPS estimates fall by 13%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from RM1.95b to RM2.01b. EPS estimate fell from RM0.265 to RM0.231 per share. Net income forecast to grow 18% next year vs 18% growth forecast for Specialty Retail industry in Malaysia. Consensus price target down from RM3.74 to RM3.43. Share price fell 3.5% to RM3.28 over the past week. Price Target Changed • Dec 02
Price target decreased by 7.5% to RM3.43 Down from RM3.70, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of RM3.33. Stock is down 8.0% over the past year. The company is forecast to post earnings per share of RM0.23 for next year compared to RM0.22 last year. Declared Dividend • Dec 02
First quarter dividend of RM0.025 announced Shareholders will receive a dividend of RM0.025. Ex-date: 13th December 2024 Payment date: 27th December 2024 Dividend yield will be 3.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 1.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 50% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 30
First quarter 2025 earnings released: EPS: RM0.018 (vs RM0.041 in 1Q 2024) First quarter 2025 results: EPS: RM0.018 (down from RM0.041 in 1Q 2024). Revenue: RM393.1m (up 1.3% from 1Q 2024). Net income: RM11.5m (down 57% from 1Q 2024). Profit margin: 2.9% (down from 6.9% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Nov 29
Padini Holdings Berhad Announces Second Interim Dividend for the Financial Year Ending 30 June 2025, Payable on 27 December 2024 Padini Holdings Berhad announced Second Interim Dividend of 2.5 sen per share (Single Tier Dividend) in respect of the financial year ending 30 June 2025. Ex-Date is 13 December 2024. Entitlement date is 16 December 2024. Payment Date is 27 December 2024. Reported Earnings • Oct 27
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: RM0.22 (down from RM0.34 in FY 2023). Revenue: RM1.92b (up 5.3% from FY 2023). Net income: RM146.6m (down 34% from FY 2023). Profit margin: 7.6% (down from 12% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Oct 25
Padini Holdings Berhad, Annual General Meeting, Nov 27, 2024 Padini Holdings Berhad, Annual General Meeting, Nov 27, 2024, at 10:00 Singapore Standard Time. Location: glenmarie ballroom, glenmarie hotel & golf resort malaysia, no. 1 jalan usahawan u1/8, seksyen u1, 40250 shah alam, selangor darul ehsan, Malaysia Price Target Changed • Aug 30
Price target decreased by 8.4% to RM3.68 Down from RM4.02, the current price target is an average from 9 analysts. New target price is 9.9% above last closing price of RM3.35. Stock is down 15% over the past year. The company is forecast to post earnings per share of RM0.26 for next year compared to RM0.22 last year. Reported Earnings • Aug 29
Full year 2024 earnings released: EPS: RM0.22 (vs RM0.34 in FY 2023) Full year 2024 results: EPS: RM0.22 (down from RM0.34 in FY 2023). Revenue: RM1.92b (up 5.3% from FY 2023). Net income: RM146.6m (down 34% from FY 2023). Profit margin: 7.6% (down from 12% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Declared Dividend • Aug 29
Fourth quarter dividend of RM0.025 announced Shareholders will receive a dividend of RM0.025. Ex-date: 12th September 2024 Payment date: 27th September 2024 Dividend yield will be 3.5%, which is higher than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 1.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 27
Padini Holdings Berhad Announces First Interim Dividend for the Year Ending June 30, 2025, Payable on 27 September 2024 Padini Holdings Berhad announced first interim dividend of 2.5 sen per share (Single Tier Dividend) in respect of financial year ending June 30, 2025. Ex-Date is 12 September 2024. Payment Date is 27 September 2024. Entitlement date 13 September 2024. Price Target Changed • Jun 04
Price target increased by 8.7% to RM4.02 Up from RM3.70, the current price target is an average from 9 analysts. New target price is 5.9% above last closing price of RM3.80. Stock is up 0.8% over the past year. The company is forecast to post earnings per share of RM0.25 for next year compared to RM0.34 last year. Reported Earnings • Jun 04
Third quarter 2024 earnings released: EPS: RM0.062 (vs RM0.066 in 3Q 2023) Third quarter 2024 results: EPS: RM0.062 (down from RM0.066 in 3Q 2023). Revenue: RM575.4m (up 26% from 3Q 2023). Net income: RM40.5m (down 6.6% from 3Q 2023). Profit margin: 7.0% (down from 9.5% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jun 01
Second quarter dividend of RM0.04 announced Shareholders will receive a dividend of RM0.04. Ex-date: 14th June 2024 Payment date: 28th June 2024 Dividend yield will be 3.0%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Mar 07
Upcoming dividend of RM0.025 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 29 March 2024. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Malaysian dividend payers (4.8%). Lower than average of industry peers (3.7%). Declared Dividend • Feb 29
Second quarter dividend of RM0.025 announced Shareholders will receive a dividend of RM0.025. Ex-date: 14th March 2024 Payment date: 29th March 2024 Dividend yield will be 3.4%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 28
Second quarter 2024 earnings released: EPS: RM0.081 (vs RM0.11 in 2Q 2023) Second quarter 2024 results: EPS: RM0.081 (down from RM0.11 in 2Q 2023). Revenue: RM500.1m (down 1.8% from 2Q 2023). Net income: RM53.1m (down 27% from 2Q 2023). Profit margin: 11% (down from 14% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 08
Upcoming dividend of RM0.025 per share at 2.9% yield Eligible shareholders must have bought the stock before 15 December 2023. Payment date: 29 December 2023. Payout ratio is a comfortable 33% but the company is paying out more than the cash it is generating. Trailing yield: 2.9%. Lower than top quartile of Malaysian dividend payers (5.0%). In line with average of industry peers (3.2%). Major Estimate Revision • Dec 07
Consensus EPS estimates fall by 25% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from RM1.83b to RM1.79b. EPS estimate also fell from RM0.35 per share to RM0.262 per share. Net income forecast to shrink 11% next year vs 0.5% growth forecast for Specialty Retail industry in Malaysia . Consensus price target down from RM4.93 to RM3.92. Share price fell 6.4% to RM3.51 over the past week. Reported Earnings • Dec 01
First quarter 2024 earnings released: EPS: RM0.041 (vs RM0.074 in 1Q 2023) First quarter 2024 results: EPS: RM0.041 (down from RM0.074 in 1Q 2023). Revenue: RM388.2m (up 2.4% from 1Q 2023). Net income: RM26.7m (down 45% from 1Q 2023). Profit margin: 6.9% (down from 13% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Nov 29
Padini Holdings Berhad Announces Re-Designation of Chia Swee Yuen as Non Independent Non Executive Director Padini Holdings Berhad announced that Mr. Chia Swee Yuen is re-designated as a Non Independent Non Executive Director of the company, as the resolution to retain him as an Independent Director was not carried at the Annual General Meeting of the Company held on 28 November 2023. Age: 66. Date of change: November 28, 2023. Reported Earnings • Oct 29
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: RM0.34 (up from RM0.23 in FY 2022). Revenue: RM1.82b (up 38% from FY 2022). Net income: RM222.7m (up 45% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) also surpassed analyst estimates by 3.8%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Board Change • Oct 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Executive Director Christopher Yong was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 07
Upcoming dividend of RM0.025 per share at 2.5% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Malaysian dividend payers (5.2%). Lower than average of industry peers (3.0%). Announcement • Aug 27
Padini Holdings Berhad Announces First Single Tier Interim Dividend for the Financial Year Ending June 30, 2024, Payable on 29 September 2023 Padini Holdings Berhad announced first interim dividend of 2.5 sen per share (Single Tier Dividend) in respect of financial year ending June 30, 2024. Ex-Date is 14 September 2023. Payment Date is 29 September 2023. Entitlement date 15 September 2023. Reported Earnings • Aug 26
Full year 2023 earnings released: EPS: RM0.34 (vs RM0.23 in FY 2022) Full year 2023 results: EPS: RM0.34 (up from RM0.23 in FY 2022). Revenue: RM1.82b (up 38% from FY 2022). Net income: RM222.7m (up 45% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 07
Upcoming dividend of RM0.04 per share at 2.7% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 34% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of Malaysian dividend payers (5.4%). In line with average of industry peers (2.5%). Reported Earnings • May 30
Third quarter 2023 earnings released: EPS: RM0.066 (vs RM0.05 in 3Q 2022) Third quarter 2023 results: EPS: RM0.066 (up from RM0.05 in 3Q 2022). Revenue: RM457.2m (up 39% from 3Q 2022). Net income: RM43.4m (up 33% from 3Q 2022). Profit margin: 9.5% (in line with 3Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 07
Upcoming dividend of RM0.025 per share at 2.6% yield Eligible shareholders must have bought the stock before 14 March 2023. Payment date: 31 March 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Malaysian dividend payers (5.2%). Higher than average of industry peers (2.2%). Major Estimate Revision • Mar 03
Consensus revenue estimates increase by 10% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from RM1.50b to RM1.66b. EPS estimate increased from RM0.254 to RM0.315 per share. Net income forecast to shrink 8.1% next year vs 2.9% decline forecast for Specialty Retail industry in Malaysia. Consensus price target up from RM4.17 to RM4.95. Share price fell 2.7% to RM3.60 over the past week. Price Target Changed • Feb 27
Price target increased by 15% to RM4.78 Up from RM4.17, the current price target is an average from 9 analysts. New target price is 23% above last closing price of RM3.88. Stock is up 15% over the past year. The company is forecast to post earnings per share of RM0.30 for next year compared to RM0.23 last year. Reported Earnings • Feb 25
Second quarter 2023 earnings released: EPS: RM0.11 (vs RM0.093 in 2Q 2022) Second quarter 2023 results: EPS: RM0.11 (up from RM0.093 in 2Q 2022). Revenue: RM509.5m (up 19% from 2Q 2022). Net income: RM73.1m (up 20% from 2Q 2022). Profit margin: 14% (in line with 2Q 2022). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Specialty Retail industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. 
