Guocoleisure (“GLL”) reported its 1QFY16 results yesterday evening. 1QFY16 revenue and net profit registered -2% and +89% year on year (“y/y”). Excluding the one off compensation amounting to approximately US$13.1m received from the cessation of management of 19 regional Thistle Hotels owned by a 3rd party, 1QFY16 net profit should be around US$18.3m, still up about 10% y/y.
To put its 1QFY16 net profit (US$18.3m) in perspective, this formed 38% of FY15 net profit and CIMB’s estimates.
Spate of insider buying buoys confidence
With reference to Table 1 below, Mr. Quek Leng Chan and Mr. Timothy Teo were the most recent two buyers with Mr. Quek’s last transaction on 30 Sep 2015. It is noteworthy that Mr. Quek’s recent purchases are more significant in transaction amounts than his previous purchases on 21 May 2015.
Before 21 May 2015, the last purchase by Mr. Quek was a ......
