In summary: - Lower Q revenue & profits. Due to one-off goodwill written off RM 4.8m in current Q & RM 10.5m property sale previous year Q. Minus these out and actually performance in this Q is better. - Slightly higher Profits & Margins for current FY compared to previous year. (11.8% vs 11.3%) - Higher Dividends for current FY compared to previous year (2016: 11 sen vs 2015: 10 sen). - 38.4% of revenue from outside of Malaysia, so might continue to benefit from weaker Ringgit. - ROAE at 18.6%. - ROIC at 26.7%. - CROIC at 25.5%. - Free Cash Flow (FCF) vs Revenue at 11.7%. - DY at 5.56%
Valuation: - P/E: 13.56 - EV/EBIT: 13.22 - Price to FCF: 13.79 or 7.3% cash yield.
Risk/weakness: - Competitive local market in Fast Moving Consumer Goods industry. - Stronger Ringgit might signal less contribution from overseas.
Younglearner, I only analyze the quarter and full year result to get the necessary data. Some of the things I listed here are already mentioned in the quarter report.
seems like the agreement of stake acquisition for UAE plant going to sign soon as fews announcement made...pending document only...great...i like those business with capability to expand to overseas...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
shinado
413 posts
Posted by shinado > 2016-04-15 12:11 | Report Abuse
drastic drop followed by drastic recovery. so weird.