Tuesday, September 14, 2010
FreightLinks: good 1QFYApr11 results. Revenue +19.5% to $36.6m, as main segments in freight forwarding, warehousing, and chemical storage saw improvements in volume and rates. Net profit to sh/h +359% to $2.4m, as associates swung to profit due to absence of impairment. Mgt remains “cautiously optimistic”; reiterates ongoing plan to reit certain properties to its 51% owned, Sabana Invmt Partners, which could be a catalyst in unlocking shareholder value if successful. Stock trades at 7.4x PE.