Just wanted to do a quick update on Comfort recent quarter results and also some activities regarding Comfortdelgro in my portfolio.
I bought Comfortdelgro back in Feb at an average price of $2.42 and managed to divest the shares on the 9th May at $2.73 for a profits of 13% (inclusive of dividend). I bought back the same shares back on the 15th May after they announced their results at $2.55, thinking the support would hold. It was breached rather easily and now am getting caught catching a falling knife. Oh well, that’s life.
I’ll do a quick thoughts on their recent quarterly results.
On paper, net profits are up 12.4% but this was due to one of special dividends of $11.1m from Cabcharge Australia, which the company has acquired the rest of the minority shareholdings in the company.
Overall, we know that operating …