Hock Lian Seng......no surprises in their Q1-2011 results.....still waiting for that elusive MRT contract to materialise.....???!!!
Thursday, 19 May, 2011 10:56 AM
Posted by Kevin Scully
Hock Lian Seng announced its Q1-2011 results - no major surprises but the most worrying thing was its order book which had fallen further. Let me first summarise the key Q1-2011 numbers.
a) Revenue fell 27% to S$45mn
b) Pretax profit fell 35% to S$6mn.....but if we exclude the sale of investments, the decline in pretax profit was 23%.
c) Net profit was S$4.9mn down 36%
d) NAV was S$0.185 while its EPS was S$0.01
e) gross cash rose to S$168mn less payments received in advance of billings giving net cash of about S$81mn or cash per share of about S$0.16.
f) current order book S$307mn down from S$350mn in Q4-2010.
The decline in revenue ......
