Super Grp

Super Grp: Announced strong set of 4Q12 results, which was at the top end of estimates. Rev at $155.5m, +29% yoy and +19.5% qoq, while net profit at $22.3m, -7% yoy and -6% qoq. Result brings FY12 rev to $519.3m, +18% yoy and net profit to $82.6m, +29% yoy. Gross margins improved further to 35% vs 32% yoy. Strong rev was due to double-digit rev growth driven grp’s Branded Consumer and Food Ingredients business segments. Food Ingredients sales led the surge by registering 50% increase to $66.5m due mainly to strong demand from Gup’s traditional markets of East Asia and higher sales into Aseam, particularly from Thailand and Indonesia. Branded Consumer sales grew 16% to $89.0m in 4Q12 from $76.4m in previous corresponding qtr due mainly to strong demand for Group’s instant beverages from Asean and East Asia markets. For FY12, Branded Consumer sales grew 11% to $355.1m. Coupled with Food Ingredient sales’ 34% increase to $164.1m. Going forward, grp expects market conditions to remain competitive in the next twelve mths while raw material costs and currency fluctuations will continue to impact the operating performance. Grp is optimistic that its on-going efforts to stay ahead of the competition will generate positive contributions to its operating performance. The grp has declared a div of 5.1c/share, bring Fy12 div to 7.1c. (1.9% yield). Trading to be lifted at 2.30 p.m