Summary of Armstrong Q1-2012 analyst briefing this morning
Wednesday, 16 May, 2012 2:42 PM
Posted by Kevin Scully
Steven Koh, Deputy CEO and Executive Director of Armstrong conducted the briefing to about 15-20 persons.
The company acknowledged that the Q1-2012 operational numbers were still weak with profit of just about S$1-2mn if we exclude the financial instrument and insurance figures.
Going forward however, the picture was better:
a) the HDD business is almost back to pre-flood levels in Thailand in April and this excludes the expected organic growth of 6-7% for the whole disk drive industry in 2012.
b) the automotive sector which is mainly in China and to a lesser extent SE Asia is still seeing organic growth of between 5-10% despite the weak overall car sales figures in China mainly because the weak sales are at the low end of the car market whilst Armstrong's products ......