Super Grp

Super Grp: CIMB has results preview. Expect 3Q’s earnings to come in at $17.8m which forms 26% of consensus full-year estimates. House believe that the impact of moderating coffee prices should outweigh demand sluggishness in the Asean economies. Overall, maintain Outperform, with no change to estimates or target price, still based on 20x P/E (20% discount to Nestle Malaysia). House roll forward TP to end-CY13 and review our forecasts after the 3Q results announcement, expected on 8 November. Catalysts include stronger-than-expected Branded Consumer sales.