Mainboard-listed BRC Asia, one of the largest prefabricated steel reinforcement providers in Singapore, says net profit for first quarter ended 31 December 2010 (1Q2011) fell 52% y-o-y to $3.3 million due to rising steel costs and intense market competition which halved gross profit margin to 9.2% in 1Q2011 from 18.8% in 1Q2010. Revenue for first quarter ended 15% higher y-o-y to $72.4 million due to higher sales volume amidst buoyant construction activities in Singapore.
Posts Tagged ‘gross profit margin’
Straits Asia Resources upgraded to ‘buy’ by OCBC
December 2nd, 2010 |
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OCBC Investment Research in a Nov 30 research report says: “The group’s YTD core net profit has fallen 48% y-o-y to US$57.7 million despite a 3% growth in revenue to US$529.3 million, with lower coal prices being the key culprit for margin compression. We are forecasting a 15.6ppt drop in FY2010 gross profit margin to 24.5%, but expect this trend to reverse in FY2011 as coal prices recover.
Suntech Power Holdings rated ‘outperform’ by Daiwa Research
November 23rd, 2010 |
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Daiwa Research in a Nov 18 research report says: “The gross-profit margin came in at 16.4% for 3Q10, down from 18.2% for 2Q10, as a result of a decline in ASPs and slight increase in wafer prices. STP’s 3Q10 net profit of US$33m was below our forecast of US$52m due to a lower gross margin and net hedging loss of US$32m.
Sinopipe’s 3Q net profit rises 7.2% to $3.9m
November 11th, 2010 |
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Sinopipe Holdings, the manufacturer of plastic pipes and pipe fittings, says net profit rose 7.2% to RMB 20.4 million ($3.9 million) for the three months ended 30 September 2010 (3Q2010) from RMB 19 million in 3Q2009.
Revenue for 3Q2010 increased 11.1% to RMB 233.7 million from RMB 210.4 million recorded in 3Q2009 due to higher revenue recorded for water supply, telecommunication and electrical, water-saving irrigation and fuel gas operating segments under the plastic pipe segment.
Over the same period, gross profit rose 6.7% from RMB 47.7 million to RMB 50.9 million while gross profit margin was lower at 21.8% in 3Q2010, compared to 22.7% in 3Q2009, mainly due to higher raw material costs. Aided by lower other operating and tax expenses,.
Sinopipe believes that the long term prospects of the plastic pipes industry remain positive. The group says it will continue to participate in exhibitions which provide a platform for it to showcase its brands and products as well as present opportunities that will enhance its revenue base, profit margins and competitiveness.
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PEC posts 23% rise in 1Q earnings to $8.8m
November 10th, 2010 |
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PEC says profit attributable to shareholders rose 23% to $8.8 million for the first quarter ended 30 September 2010 of financial year 2011 (1Q2011) from $7.1 million in 1Q2010 due to improved margins and higher contributions from joint ventures.
Group revenue remained stable at $107.8 million in 1Q2011 compared to $106.9 million in 1Q2010, generated from ongoing project works and maintenance services. Gross profit during the period rose 14% to $27.3 million from $24.0 million, while gross profit margin increased to 25% from 22% in 1Q2010.
Kim Eng cuts Li Heng to Hold, lowers FY10-12 estimates
November 10th, 2010 |
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Kim Eng downgrades Li Heng Chemical Fibre Technologies (E9A.SG) to Hold vs Buy, lowers target to 0.24 vs $0.35.
Says, excluding CNY16.6 million forex gain 3Q10 results slightly below expectations, core net profit of CNY54.5 million fell 16.3% on-quarter as gross profit margin came under pressure due to anti-dumping tariffs on imported PA chips by Chinese government in April.
Advanced Holdings posts 3.3% rise in 3Q net to $1.4m
November 9th, 2010 |
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Advanced Holdings, the supplier of proprietary process equipment and technologies, clean energy solutions and environmental technologies, today reported revenue of $18.8 million for the third quarter ended 30 September 2010 (3Q2010), representing a 3.3% increase as compared to the same period last year (3Q2009), and earnings of $1.4 million for the latest quarter.
Despite higher cost outlays, the group recorded a marginally higher gross profit margin of 31.2% in 3Q2010.
Managing Director Dr Wong Kar King says, “We are heartened by the improvement in our latest order book. We recently clinched four new contracts amounting to some $11 million in China and the Middle East, signifying renewed momentum in terms of demand. In addition, our opportune acquisition of both ATAC1 and AEPL2 earlier this year will enable the Group to capture a bigger slice of the market in the Oil and Gas as well as Petrochemicals and Chemicals business segments. Going forward, we will focus on further integrating our Group and improving our performance.”
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Riverstone Holdings rated ‘buy’ by Phillip Securities
November 4th, 2010 |
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Phillip Securities Research in a Nov 3 research report says: “Riverstone’s revenue for 3Q10 came in at RM54.7 million, +22.1% y-o-y. Net profit reported was RM9.92 million, +2.3% q-o-q and flat on a y-o-y basis. Gross profit margin and net profit margin in 3Q10 were 29.7% and 18.1% respectively.
China Animal Healthcare rated ‘buy’ by DMG
November 1st, 2010 |
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DMG & Partners Securities in an Oct 29 research report says: "China Animal Healthcare (CAL) is a key PRC animal drug manufacturer with ~2% domestic market share. Since 2006, CAL’s gross profit margin hovered around 75% due to its direct sales model and net profit growth averaged 23% through new drugs and M&As despite economic slowdown.
China Minzhong Food Corp rated ‘overweight’ by JP Morgan
August 26th, 2010 |
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JP Morgan Research in an Aug 25 research report says: “Excluding fair value losses of Rmb15 million, core net profit of Rmb383 million (+37% y-o-y) was 13%/5% ahead of JPM/consensus estimates. Gross profit margin remained steady at 40.4%.
PEC posts 96% rise in full-year net profit to $48.2m
August 26th, 2010 |
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PEC, the plant and terminal engineering specialist, has reported net profit after tax for the full year ended 30 June 2010 (FY2010) increased by 96% to $48.2 million from S$24.5 million in FY2009.
PEC says the rise in net profit came on the back of a 35% increase in gross profit from $91.4 million to $123.2 million, as well as an increase in gross profit margin to 26% in FY2010 from 21% in FY2009.
On a quarterly basis, net profit for the three months ended 30 June 2010 (4QFY2010) rose 137% to $10.8 million from $4.5 million in 4QFY2009 while revenue fell 1% to $124.4 million.
Rotary Engineering cut to $1.16 from $1.53 by OCBC
August 10th, 2010 |
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OCBC Investment Research has cut Rotary Engineering’s (R07.SG) fair value to $1.16 from $1.53 to reflect deteriorating margin outlook, but maintains Buy call due to good earnings visibility “stretching into FY2012”, says Dow Jones.
OCBC notes 2Q gross profit margin has contracted 1.5 percentage points to 18.3% from year earlier while net profit margin has slipped 1.3 percentage points to 6.6%; heightened risk aversion, absence of near-term catalysts also weigh on valuation.
Stock last down 1.5% at $0.955.
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Qian Hu Corporation rated buy by Phillip Securities
July 21st, 2010 |
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Phillip Securities Research in a July 21 research report says: “2Q10 revenue was $22.7 million (-4.1% y-o-y, -2.2% q-o-q). 2Q10 net profit attributable to shareholder $0.95 million (-42.9% y-o-y, -32.7% q-o-q). Gross profit margin was 30.6% while net profit margin was 4.0%.
Novo Group posts 667% jump in net profit to $16.5m in FY2010
June 21st, 2010 |
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Novo Group, the global steel and coal supply-chain management company, says net profit for financial period ended 30 April 2010 (FY2010) climbed 667% to US$12 million ($16.5 million) compared to net profit of US$1.6 million in FY2009.
Revenue for FY2010 was US$403 million, a 23% decline from FY2009 revenue of US$523.7 million but gross profit margin in FY2010 increased to 13.8% from 8.8% in FY2009.
BBR Holdings rated buy
May 17th, 2010 |
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DMG & Partners Securities in a May 14 research report says: “1Q10 earnings came in at $4.5 million, up 61.9% y-o-y on the back of higher gross profit margin (GPM) achieved and increased contribution from its associates (+77.1% y-o-y).
Wee Hur records 26% rise in net profit to $5.4m in 1Q
May 14th, 2010 |
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Wee Hur Holdings, the BCA Grade A1 builder and property developer, recorded a 26% increase in net profit to $5.4 million in 1Q2010 from $4.3 million in 1Q2009.
Revenue for the group fell 35.5% in 1Q2010 as the new projects were still in their early stage of work in progress and hence the recognition of revenue was lower. The lower revenue also resulted in reduced gross profit and gross profit margin for the quarter.
Qian Hu Corporation rated buy
April 20th, 2010 |
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Phillip Securities Research in an April 20 research report says: “1Q10 Revenue $23.2 million (+0.37% y-o-y, -2.64% q-o-q). 1Q10 net profit attributable to shareholder $1.4 million (+0.93% y-o-y, -21.5% q-o-q). Gross profit margin and net profit margin were 31.9% and 6.6% in 1Q10 respectively.
China Flexible Packaging posts 328% rise in net profit to $5m for 1Q
March 17th, 2010 |
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China Flexible Packaging Holdings, the manufacturer of biaxially-oriented polypropylene film in China, says net profit for the three months ending 31 January 2010 (1QFY2010) rose 328% y-o-y to RMB24.9 million ($5.1 million) due to an increase in sales as well as the improvement on gross profit margin over this period.
Sinopipe posts 137% rise in 4Q net profit to $1.1m
March 1st, 2010 |
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Sinopipe Holdings, the manufacturer of plastic pipes and pipe fittings, says it posted a 136.9% rise in net profit to RMB 5.4 million ($1.1 million) in for the three months and full year ended 31 December 2009 (4Q2009) from RMB 2.3 million recorded in 4Q2008.
Revenue for 4Q09 increased 10% to RMB 251.4 million from RMB 228.5 million. Gross profit, on the other hand, dipped by 6.2% from RMB 46.5 million in 4Q08 to RMB 43.6 million in 4Q09 while gross profit margin was lower at 17.3% in 4Q09, compared to 20.4% in 4Q08.
Wee Hur doubles net profit to $16.3m for FY09
February 25th, 2010 |
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Wee Hur Holdings, the BCA Grade A1 builder and property developer, doubled its net profit to $16.3 million for its financial year ended 31 December 2009. This increase came about on the back of a jump in revenue by 63% to $206.9 million contributed from a number of major projects with high contract value in their matured completed stage of work.
The group also recorded an 88% jump in its gross profit to $28.9 million attributed to the higher revenue and an improvement in its gross profit margin by 1.9 percentage points from 12.1% in FY2008 to 14% in FY2009.