Stock Digest - Elk-Desa Resources Bhd - Foresee Moderate Growth Amidst Economic Uncertainties

YoY, the bottom line soared on the back of higher contribution from (i) the hire purchase segment as increase in revenue resulted from larger hire purchase portfolio outweighed the increase in impairment allowance, and (ii) the furniture segment due to lower freight charges as well as lower staff costs. QoQ, core net profit shrank 31.4%, mainly due to lower contribution from the hire purchase segment as impairment allowance climbed.