UNVR – Margin Improvement Amid Lower Topline
Despite booking soft revenue numbers, UNVR succeeded to record margin improvement in 3Q20. When looking into 3Q20
SIDO – 3Q : Herbal Demand Show Sign of Recovery
SIDO managed to record outstanding performance, despite uncertainty situation. On a more positive note, we believe
ERAA – Growth Slips, but Expect Gradual Recovery in 2H
ERAA posted below-expected performance throughout the second quarter, which mainly due to store closures and a sharp
MAPI – Overshadowed by a Prolonged PSBB
Retail has been one of the industries being hit the hardest by the pandemic, especially during 2Q20. However, we still
ICBP – Maintaining Positive Momentum from Acquisition
In the middle of an unprecedented pandemic, ICBP still enjoyed stronger earnings growth along with revenue growth. We
KLBF – Remains Optimistic Despite Headwinds
KLBF 2Q20 earnings exceeded our expectations, with the modest growth in distribution and consumer health segment, but
GGRM – Bumpy Road Ahead for Tobacco Players
GGRM showed its ability to endure the tough quarter, even though the outlook is a bit more muted than last year. Our new
KINO – Slow Revenue Growth amid Weak Consumption
We already expected KINO to record weak performance in 2Q20 as the consequences of lower demand amid the pandemic. This
INDF – In-line with Expectation
In the midst of unfavourable situation, INDF recorded a low single digit growth in 1Q20. This growth was mainly
