White Horse reported close to 20% increase in revenue and profit. A close to RM 3.00 valuation can be only fair to White Horse which has a strong branding plus consistent results.
L&G with 7.92 cents EPS is a strong result. But we think that can be certain one time clocked profit. But with half year 12.7 cents and potentially above 20 cents a year. L&G fair value should be higher than RM 1.00. We recommend a strong buy in L&G.