KencanaAgri: Results for FY2010 were good as well, rev at US$152.0m +24.6%yoy with net profit of $22.8m +36.3%yoy. Fair value gains contributed approx US$16.4m. Excluding fair value gains, gross profit still rose 31.4% mainly due to higher ASPs of Palm and Kernel oil…
However sales volumes for FY2010 fell by 5%. For 2010, weather conditions resulted in supply uncertainties driving up prices and demand from China, India and EU may face some pressure due to the high prices. Co expects supply and demand scenario to remain robust in 2011. Dividend of 0.25c declared, approx 0.6%. At EPS of 2.17c, co trades at P/E of 14.8x.
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