For the half-year period, Kimly’s PATMI fell 14.7% y-o-y to $18.5 million, forming 58.5% of Tan and Cheong’s full-year estimates.
UOB Kay Hian analysts Llelleythan Tan and John Cheong are keeping their “hold” recommendation on Kimly after the coffeeshop operator posted “underwhelming results” although within their expectations for the 1HFY2022 ended March.
“We see limited upside at current levels, coupled with the absence of any near-term catalysts,” Tan and Cheong write in their June 13 report.
