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Profit down
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AK_Francis
Supreme |
30-Oct-2008 10:49
Yells: "Happy go lucky, cheers." |
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tks for the info. 16 cts, under such market sent. marry good alrdy. OK will monitor this burger further. vested but thrown half last few days. ha ha, lose $ lah. Cash is queen mah, nowadays. Today STI chiong, though DJ down last nite. HSI giving support loh. But still need to cautious. |
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shplayer
Elite |
30-Oct-2008 10:43
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3Q 08 result not unexpected. Refer to 3Q 06, when CO fell quite rapidly from about USD80 to 60. SPC had to make an inventory writedown of about $70m. In 3Q08, CO fell from USD147 to 90+?, they had to make an inventory writedown of $125m. This coupled with tighter refining margins (RM) of USD 4 (1Q08 - USD 7; 2Q08 USD13), made a squeeze on profits. Major oil companies like Exxon and BP, having been in the business longer, has more upstream contribution from its oil fields. Their production are also at 'yesterday' cost prices. Currently, SPC's upstream revenue contribution is merely 3% of total revenue. As for dividents, final div may not match that of 2007. CO keeps falling in 4Q08 which means SPC may writedown more inventory. SPC historically pays about 60% of its earnings as dividents. So, if FY08 eps comes in at say 60c, then divy will be 36c.....less interim of 20c, perhaps final will be 16c?
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AK_Francis
Supreme |
30-Oct-2008 08:53
Yells: "Happy go lucky, cheers." |
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Agreed, fuel is an essential item. AK believe it still give good div. Announcing in mid Jan but pay in Mar/Apr.
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ilovebull
Member |
30-Oct-2008 08:50
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in this market, whether the company make profit or not also got hammered down. | ||||
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L.....
Veteran |
29-Oct-2008 23:07
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too many maybes maybes.. too little time.. personal thoughts: unwise counter to go long for the moment though attractive price.. $1 even more attractive?? |
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teeth53
Supreme |
29-Oct-2008 21:48
Yells: "don't learn through life, learn to grow with life " |
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I don't believe they do not make $$$, they do, maybe can buy back at a cheaper px or maybe can convert, it is going to report a lot more in profit / lose the next round, a once in a life time chance to collect at cheaper px...perhap.
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temp123
Senior |
29-Oct-2008 11:58
Yells: "." |
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http://www.spc.com.sg/resources/media/conf67155937.mp3 |
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Hippo1
Member |
28-Oct-2008 22:37
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I am puzzled by the latest announcement made by SPC to comment on the profit down by 95%. Based on this, i think that the Board of Directors owe us a explainnation to the shareholders. petrol prices was record high then. To think that BP and Exxon Mobil made record profit for this year, I could not understand why SPC is not making money. i think there is something seriously wrong in the management. Can anyone advice when is the AGM. Must investigate...... |
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