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China Animal Healthcare: Still on the growth track

4Q09 net earnings up 41% y-o-y to RMB49m, within expectationsBlue-ear vaccine ready for sale, contributing 22% to net profit for FY10FY10F-11F cut by 18% and 7% respectively as HFM vaccine sales delayed to mid 2010Maintain Buy, TP cut to S$0.334Q09 results were in line. China Animal Healthcare’s (CAH) 4Q09 net profit rose 41% y-o-y to ...

 

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