AllianceDBS upgrades Padini to 'buy' on strengthening ringgit


The company said in a Bursa Malaysia filing that revenue grew 20.71% to RM342.36mil, boosted by new stores including an additional five Padini Concept and eight Brands Outlet stores.

KUALA LUMPUR : AllianceDBS Research has upgraded its rating on Padini Holdings Bhd to a 'buy' recommendation as the retailer is set to benefit from the ringgit's recent recovery against the dollar which lowers its overall inventory cost.

 

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