According to Lam, the group’s net profit stood 15.8% higher than his full-year estimates, which was mainly due to the stronger-than-expected revenue growth, which also surpassed his forecasts by 15.7%.
SAC Capital analyst Lam Wang Kwan has kept “buy” on International Cement Group (ICG) as he deems the counter’s foundation as “concrete”.
The group’s results for the FY2021 ended December stood above Lam’s expectations, with revenue of $181.4 million, up 28.1% y-o-y, and net profit of $26.5 million, which increased by three-fold.
