Alexandria Mineral Oils Co. (AMOC) posted preliminary results last Thursday, producing weak figures in Q3 FY2018/19.

This follows its weak performance in H1 FY2018/19.

Such a weak performance was mainly attributed to the lower cash spread between selling prices and material costs,

This issue may have extended into Q3 (as we suspect). Management is yet to reveal more details.

Until then, we continue to keep our rating for AMOC under review

and our 12M PT suspended until further visibility is provided by the management.

For more details, please read the full report below.

190421-AMOC-–-Still-No-Recovery-Signal