Shares & Derivatives
Midas Holdings – one of My Stock Picks, delivers a good set of FY2013 results with net profit of RMB47.7mn up 67.2%
By Kevin Scully-Financial Blog  •  March 3, 2014
Midas Holdings - one of My Stock Picks, delivers a good set of FY2013 results with net profit of RMB47.7mn up 67.2% Monday, 3 March, 2014  6:57 AM
Posted by Kevin Scully

 Midas Holdings reports strong FY2013 results with net profit at RMB47.7mn up 67.2%.   These results show that the Group is slowly moving back and on the way to fully recovery.  Dont forget that Midas reported a loss in Q1-2013 of RMB4.9mn.  Q2 2013 saw the group return back to the black with profit of RMB14.9mn.  Q3 2013 saw Midas' profit rise again to RMB16.4mn.  This would mean that it made about RMB21.3mn in Q4-2013.

The table below summarises the FY2013 results:

  2013 2012 %
FYE Dec 31 RMB mn RMB mn chng
       
Revenue 1147.57 869.51 32.0%
Associates ...
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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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