CSM - OUTPERFORM - Force majeure events crimp bias sales but radial sales expected to compensate - Update
  • 05 May 2015
  • Company Research
We lower our TP to 41,800 spurred by the lost sales of bias automobile tyres and tubes in Yemen, a key export market and our FY15 NPAT forecast of an unexciting 6% growth. We maintain an OUTPERFORM rating. CSM is guiding for -13.1% PBT growth in FY15 desp