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RHB ups Kimly's TP to 46 cents on strong FY2021 results; CAD case no longer overhang factor

Felicia Tan
Felicia Tan1/18/2022 11:59 AM GMT+08  • 2 min read
RHB ups Kimly's TP to 46 cents on strong FY2021 results; CAD case no longer overhang factor
As at 12.01pm, shares in Kimly are trading 0.5 cent lower or 1.22% down at 40.5 cents.
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RHB Group Research analyst Jarick Seet has kept “buy” on Kimly with a higher target price of 46 cents from 42 cents previously.

The buoyant outlook is based on Kimly’s strong FY2021 results, where its total revenue grew 13.2% y-o-y to $238.6 million. Its PATMI stood 55.7% higher y-o-y at $39.3 million. Kimly’s FY2021 ended on Sept 30, 2021.

“Going forward, with the Tenderfresh acquisition, its bottomline and profitability should increase further. We expect the company to continue expanding organically, by opening more outlets and refurbishing existing ones,” writes Seet in a Jan 18 report.

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