Previous analyses done on Tat Hong have always dragged into three parts, which on hindsight seemed rather unnecessary considering there is not much change to key numbers such as gross margins and inventory levels from prior quarters anyhow. Hence, in the interest of brevity, I have decided to condense my entire analysis and review into just one post. Though this post may be a little on the long side (and not to mention devoid of the usual Excel tables which you see in most of my analyses), I hope to be able to touch base on all three aspects of the financial statements as well as discuss briefly on Tat Hong’s plans and prospects moving forward.

Profit and Loss Analysis
(Note: All numbers refer to 1H 2011 and NOT 2Q 2011)

It was rather disappointing to note that once again, the effects of a larger increase in COGS has offset ......