Goodpack

Goodpack: SCB reiterating its O/p call this morning with a $2.71 TP. According to mgt, the company added more trial contracts in FY14, but did not provide any further details. It expects the contribution of the auto-parts segment to the group’s revenue to rise to 2% in FY14 from less than 1% in FY13. Management said the business is making progress, but has yet to see a significant increase in revenue contribution. Management added that it remains hopeful about a material contribution from the auto-parts segment to the group’s revenue in the next 3-5 years. Management remains hopeful about an improvement in margins over the next five years, as the company increases the utilisation of boxes.