KUALA LUMPUR: CIMB Equities Research said although Benalec
's annualised 1H15 core net profit made up only 58% of its and consensus’ full-year forecasts, the results were broadly in line as it expects outstanding land sale gains in Melaka to drive 2H15's earnings.
It said on Thursday the slow progress of land reclamation contracts was not unexpected. It was also mitigated somewhat by the RM29mil in land sale profits year-to-date.
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