Thursday, February 7, 2013
Asia Enterprises Holding
Asia Enterprises Holding: FY12 Results released, revnues declined 21% y/y to $133.8m, profit declined 81% y/y to $1.7m. The average capacity utilisation ratio in 2012 was 78.8%, compared to 80.7% in 2011. Mainly attributed to the weak underlying demand for steel, and the persistent decline in international steel prices resulted in a highly challenging operating environment during FY2012.
Marine and Offshore segment was the main contributor to the loss of demand, declining 37% y/y in revenues. With ASPs coming off, weak shipbuilding orders affected overall steel demand.
Mgmt stated that group revenue in FY2012 was down from a year ago due to lower steel purchasing requirements from customers, as well as softer ASPs. Amid heightened competition, selling prices were under pressure and fell at a faster pace than the replacement cost of inventory.
The Group proposed final and special dividends totaling 1.0 cent per share for FY2012, indicative dividend yield for the year of 4.2%.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment