HourGlass: FY11 results. Revenue is up 7% yoy to $517m, driven by expansion of the group’s retail network. Net Profit is up 29% yoy to $43.2m. Gross margins have improved to 22.4% from 20.1%, attributed to more positive trading conditions and marketing programs. The company remains in a net cash position. The company has recommended a 5cts final dividend per ordinary share...
Company expects sustained demand from Asia ex Japan, but is aware of inflationary pressures driving up costs in the future.
Stock currently trades at 5.6X P/E.
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