Glomac reported its earnings yesterday.
Just came across this research report..
Here is the earning comparisons.
It wasn't pretty. On a q-q basis, net earnings dropped some 74.9%.
But despite earning just 4.2 million, this research report still insists that Glomac will earn some 49.7 million for its Fy 2007 or some 45.5 million for the remaining 3 quarters!
Isn't this being too optimistic?
So this research report admits that Glomac earnings is below their full year forecast by some 67.9% and they said it loud and clear that it was a weak quarter.
So they issue a Neutral call.
Down so much still Neutral?
And here comes this....
By the way, don't you get confused by the misleading news articles which focus on irrelevant issues such as sale revenue of XBZ stock up by YYY%???
Here is the link to one such article: Glomac revenue up 13% to RM52.8m (Sounds good from the title, eh)