It maintains a ‘neutral’ call on the group on the back of improved earnings, stable political environment.
Magnum Bhd’s gaming earnings have remained consistent over the past few years, said RHB Research.
Revenue stood at RM537.1 million, marking a 11% year-on-year increase from RM482.1 million in Q2 FY2022. “The political status quo means the company can operate like business as usual, and not have to fear outlet closures like it faced in Kedah,” RHB Research said. Furthermore, RHB has announced an upward revision of its DPS forecast for the FY 2023 till FY 2025, now projected at 7-8.5 sen from its previous range of 6-7 sen.
The research house observed that Magnum’s gaming earnings remained consistent, hovering around 80% of the 2019 average, mirroring its performance in preceding quarters.
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