Freight-Links: FY11 results. Net profit $16.3m, +17.6% yoy. Revenue $154.1m, +22.5% yoy. This is on the back of higher business volume, including contribution from its mgmt fees business, as well as other exceptional gains. Excluding exceptional gains, net profit would have been $13m.
Rental expense +59% due to an upward revision in JTC rental rates and the lack of a 15% rebate available in 2010. Forex loss almost doubled due to the weakening USD.
The company is now in a net cash position from a 12.6% net gearing ratio in the previous year as long-term borrowings decreased from $48.7m to $9.1m. This also decreased finance costs by 90%...
Co expects its 51% stake in Sabana Investment Partners to continue contributing positively. The co is redeveloping a warehouse property in Gul Circle into a 3-storey ramp-up warehouse.
The company proposes a first and final dividend of 0.4cts, implying a 6.67% yield at its last close at $0.06.
Stock currently trades at 8.3X P/E. There are no analyst recommendations.
No comments:
Post a Comment