堡发资源 （Poh Huat）- 低估的可能？

堡发资源 （Poh Huat）- 低估的可能？

由于马币兑美元的汇率转换以及原材料成本的上涨，越南业务的贡献低于预期以致堡发的第一季净利润为1,020万令吉下降-42％。

堡发的第一季收入略微下降1％至1.619亿令吉，主要是由于近期产品组合向中端及可负担部分市场转移，越南业务的销售减少，但由于大马业务销售至美国市场的面板型卧室套件以及传统办公家具的强劲需求间接抵消了冲击。由于马来西亚和越南的业务经历利润率压缩，税前利润率在第一季度减弱是因为马币升值；最近的火灾事件导致生产中断，运营效率下降; 和原材料成本增加。在初始调整期间，开始生产几种新型家具产品也导致生产效率和劳动生产率降低。

该集团表示，为了保持领先于竞争对手，将继续调整其产品以迎合人口和市场趋势的变化，还必须与客户紧密合作，以缓解原材料价格上涨，劳动力成本和价格调整以应付美元兑马币汇率近期的变化。

 股东权益率大约有14%，殖利率有6%，净现金8千万，本益比估值只有6倍，股价有被低估的可能性，可以观察看看。

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