28 February 2008 A slew of financial results were released during the past month and my fellow authors have been busy analyzing on the stocks that they have owned. I believe many people would also like to hear what the average investor has to say about their stock on top of reading analysts' reports. Hence I will compile them and put it in an accessible to read format when I upgrade my blog template. Below is a short summary categorized by the author's name.
By: Alen Synear – Expensive pork expensive lesson After Synear announced the FY07 result, market has rewarded it with big sell down and many broker downgrade. Key reason is the result below expectation. We have to admit that buying stock is based on rule of expectation. When company outperform the expectation, share price increases. Otherwise, it is the other way. Imagine that I bought a few lot at well above 2+, you should know what expensive lesson means. Read more... China lady shoe maker – Hongguo FY07 result The dividend payment is increased from 0.73 cents to 0.97 cents. The most comforting fact of Hongguo is it has achieved another year of 20% increase of profit. As long as you didn't buy expensive. This is a stock worth to keep. Assume they are able to increase the EPS to 0.336 next year. At the current price of 0.635, it is selling at next year PE of 9.4. BUY! Read more...
By: Drizzt Sarin Technologies: Glittering results but unglittering share price Sarin’s share price performance have been pretty dire in this volatile market. Nothing seems to be able to bring it up. Part of the reason i feel before seeing this full year result is attributed to:
- Poor sales due to falling demand from United States, India and China.
- Supply concerns in India
- Falling USD which they are priced and paid at. Read more...
- interest bearing debt is 37% of assets
- cash is 47% of assets
- cash is 76% of market cap at SGD 61.5 cents
- inventories are growing inline with sales growth
- so are receivables Read more...
- Profits improved 117%, buoyed by record rates last year.
- Revenue improved 59% from 2006
- Operating Profit After Tax improved from USD 49 mil to USD 58 mil.
- In contrast, cost of sales only increase by 22%. The management has done well keeping control of the cost. Read more...
- Revenue was down 11.5% for the 4th quarter
- Revenue was down an overall of 13.7% for the full year
- Made a profit loss for the 4th quarter. The first after a long time
- Overall a 32.5% fall in net profits.Read more...
By: La Papillion Yongnam Had this company for a while, but this is the first time I did a closer look at their financial statements. From the press release, it seems that Yongnam had a good result. A closer look should be able to see if this is really true. Read more... Ossia International Ltd They had just released their full year results for FY07, so there's more things to look at in comparison with FY06. Gross profit went from 50.9% in FY06 to 52.1% in FY07 Sales went up by 9.8% COGS went up by 7.2% As sales went up, COGS went up by a proportionately lower amount, bringing gross profit up a little. Read more... Reply to Ossia's post Yong said, I spotted a few errors in your analysis and inaccurate statements. Allow me to correct them one by one. 1)"From hence on, there will be higher expenses from the rental of the building in which they sold and leased back. " Ans: This is not true at all. Read more... Old Chang Kee Okay, let's get down to Old chang kee. It's just out of sheer curiosity that I'm interested in their full year financial results. I liked their curry puffs in the past and I always see long queues of people buying their stuff, so naturally I'm interested to see if popular products equates to good business. Old Chang Kee (OCK) recently IPO. Revenue increased 20% from FY06 to FY07 COGS increased correspondingly by 21.6% Gross profit rises 19% Read more... FJ benjamin Since I did Ossia, I might as well do a little analysis on FJbenjamin too. This have a similar business to that of Ossia of retail. FJben sells watches, apparels and have a 30% stake in St.James power house too. Flipping their annual report for FY07, this is what I see: Turnover increases at a CAGR of 25.0% from 2003 to 2007 Net earnings increases at a CAGR of 94.8% for the same period. Read more...