Focus Point set for solid Q2 earnings on strong optical sales
Focus Point is tentatively scheduled to release its Q2 results on Aug 19.
RHB Research expects the results to be in line with its and consensus expectations, with Q2 net profit estimated at RM9-10 million.
"This will be supported by strong sales growth in the optical segment, underpinned by effective marketing initiatives.
"While the food and beverage segment remains soft, we anticipate a quarter on quarter improvement, driven by better seasonality following the post-Ramadan period," it said.
RHB Research continues to favour Focus Point for its market leadership position to capitalise on the rising myopic population.
The research house noted that its current valuation is undemanding, particularly given the company's consistent outperformance of the broader retail sector, even amid a challenging operating environment.
While the additional Employees Provident Fund contributions for foreign workers are minimal given the group employs about 70 foreign workers, the Sales and Service Tax expansion is expected to add around RM300,000 in monthly operating costs, according to management.
"To reflect the higher cost base, we trim our financial year 2025 (FY25), FY26 and FY27 earnings by four per cent, six per cent and six per cent, respectively.
"Accordingly, we revise our target price to 99 sen. This implies 11.4 times FY26 price per earnings, broadly in line with the valuation of other consumer retail names under our coverage," it added.
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