Shares & Derivatives
Summary of Armstrong Q1-2012 analyst briefing this morning
By Kevin Scully-Financial Blog  •  May 16, 2012
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 ......
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By Kevin Scully-Financial Blog
Kevin began his working life in the regional and economics division of the Ministry of Foreign Affairs. He then moved to the private sector analyzing equities before venturing out to start NRA Capital. After 25 years of watching stocks and living through financial disarray during the Pan Electric Crisis, the 1987 Crash, the Barings debacle, the Gulf War, Asian financial crisis - what can sub-prime do but add another scar to already bruised wounds. Ever since starting his blog, Kevin has been enthusiastically giving his personal views on the market. He discusses about equities, the market turmoil, and the broad economy.
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