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AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m

khng2012
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04-Sep-2012 10:59

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Typical consolidation way, block up few thousand lots at 39cents block down few thousand lots at 38 cents.

Don't know what they are doing.

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bryancbq
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04-Sep-2012 10:24

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Lol. Hope it comes soon!

khng2012 ( Date: 04-Sep-2012 09:57) Posted:

I thought you don't want to monitor anymore. Just keep it aside.

merlin_magic ( Date: 04-Sep-2012 09:07) Posted:

it is under siege...early in the morning, there is so many selling orders at 39 cents....buay kan stock....

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khng2012
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04-Sep-2012 09:57

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I thought you don't want to monitor anymore. Just keep it aside.

merlin_magic ( Date: 04-Sep-2012 09:07) Posted:

it is under siege...early in the morning, there is so many selling orders at 39 cents....buay kan stock....

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merlin_magic
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04-Sep-2012 09:07

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it is under siege...early in the morning, there is so many selling orders at 39 cents....buay kan stock....

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khng2012
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03-Sep-2012 20:47

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Still long to go the record date.

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yummygd
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03-Sep-2012 19:10

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Big fish wanna eat small fish den when nearer to record date will sell back triple to small fish. Den small fish once agaib ended up carrying baby.......

merlin_magic ( Date: 03-Sep-2012 15:30) Posted:

Bought another batch at 38.5 cents...Heavy selling...... How come nobody appreciates such a good fundamental stock? Revenue up, Profit up, Gearing down and Net Cash up...Also special dividend

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khng2012
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03-Sep-2012 16:28

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Seeing, some joker buy 1 lot, 1 lot up.

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merlin_magic
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03-Sep-2012 16:18

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this is a buay kan stock... I have averaged down to 39 cents.... Not going to watch this counter any more...Stored in the freezer....Buay Kan....< Angry>

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ozone2002
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03-Sep-2012 16:05

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greed and fear are part and parcel of share movement..

be greedy when others are fearful

and fearful when others are greedy

gd luck dyodd :)

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khng2012
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03-Sep-2012 16:02

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Break 38cents, Panic selling...

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khng2012
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03-Sep-2012 15:58

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Continue big sell down to clear 38.5cent buy.

Wah, break all the confidence.

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merlin_magic
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03-Sep-2012 15:30

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Bought another batch at 38.5 cents...Heavy selling...... How come nobody appreciates such a good fundamental stock? Revenue up, Profit up, Gearing down and Net Cash up...Also special dividend

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khng2012
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03-Sep-2012 14:56

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Let the stupid fellow continually sell their share.

When time come(within 3 to 6 months), they will regret.

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khng2012
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03-Sep-2012 13:15

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Be patient, we will be rewarded

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merlin_magic
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03-Sep-2012 10:39

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lousy stock....my average price is 39.5 cents...still waiting for it to break past 40 cents.

but then again, meanwhile, I can keep accumulating...

honestly speaking, this is a stock which I can happily sleep at night for it has good fundamentals...

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ozone2002
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03-Sep-2012 10:10

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seems like 40c is the next IMMEDIATE resistance..

been trying to break that mark convincingly..

gd luck dyodd

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khng2012
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31-Aug-2012 11:56

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Still can't stimulate the interest from BBs.

Long way to go, have to wait till next week.

Hopefully, Bernanke will say something which is good to the market.

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dicksonh
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31-Aug-2012 09:59

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So when is the dividend record date? :)

Thanks!

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ozone2002
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31-Aug-2012 09:57

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AUSGROUP: FY2012 net profit up 88% pays special dividend

Written by Sim Kih

Friday, 31 August 2012 09:30

At AusGroup's FY2012 results briefing for analysts and fund managers: Lumiere Capital fund managers Victor Khoo (extreme left) and Wong Yuliang (back to camera) with CFO Anthony Hardwick (2nd from right) and CEO Laurie Barlow (extreme right). Photo by Sim Kih

In this 3-month chart, AusGroup stock price (blue line) has outperformed the STI recently.

AUSGROUP HAS posted excellent FY2012 results, with all the key financial indicators trending in the right direction.

Group revenue was up 5.0% at A$632.0 million, gross margins have expanded by 2.8 percentage points to 12.4%, and net profit attributable to shareholders was up 88.1% at A$23.3 million.

Net cash from operations was A$41.0 million compared to a negative A$11.6 million in the previous year.

Cash and cash equivalents stood at S$32.8 million, up 23.5%.

In view of its strong financial position, it announced a special cash dividend of 0.36 cents per share in addition to its final cash dividend of 0.64 cent.

The total dividend of one Singapore cent is 56% higher than what it previously paid.

Based on its closing price of 38 cents on Wed, it has a dividend yield of 2.6%.

Its orderbook as at 29 Aug was A$324 million, with A$792 million of new contracts secured in FY2012.

CEO Laurie Barlow was appointed to the board in March.

‘Order books have been increasing year-on-year for the past four years. We expect our order book to keep on increasing as there is a strong pipeline of multi-billion dollar projects well under way that we can provide services to,’ said CEO Laurie Barlow at its results briefing on Wed evening.

The demand for AusGroup’s manufacturing, construction and asset maintenance services for the mineral resources and oil & gas industries has been fueled by the boom in capital expenditure in Australia’s mining industry.

A survey in July by the Australian Bureau of Statistics points to a rise of 41% in mining investment in 2012/13, after rises of 33% in 2009/10 and 75% in 2010/11.

The company intends to expand into the Queensland natural resources sector, where its coal seam gas industry has grown rapidly over the past 15 years. Annually, the number of wells drilled increased from 10 in the early 1990s to almost 600 in 2010–11.

Natural gas extracted from coal beds has in recent decades become an important source of energy in the US, Canada, and other countries.

”Queensland has abundant coalmines. Coking coal, together with iron, is needed to produce steel. So wherever there is demand for iron, there will be demand for coal. Our services in Western Australia can be duplicated in Queensland,” said executive director Stuart Kenny, who was also at the meeting.

Mr Stuart Kenny was acting CEO until Mr Barlow came on board.

Below is a summary of questions raised at the investor briefing and the replies provided by the Mr Barlow, Mr Kenny and CFO Anthony Hardwick.

Q: How much will headcount increase in the year ahead?

Headcount is proportional to order intake (projects won) because our people generate our revenue. We had more 3,000 people during the year. Labor forms a large portion of our cost of sales.

Q: Do you face labor shortage problems?

We have not had any major problems securing skilled labor to service our projects. We have a very good people capital group that keeps track of people as they move on and off projects.

We had cases when we brought specialist welders in from the UK, we also have the ability to bring people in from the Philippines.

When we bring in someone, it's a thorough process. We interview them. We reference check them. We test their skills. We give them a medical test, including on drug and alcohol. When they join us, we give them induction and training for the project.

Labor management is a barrier to entry in our line of trade. Unless you do all of the above, you end up with a workforce that is unsafe, untrained, unskilled and inefficient.

'Variation in orders can lead to actual revenue being much larger than the initial order secured,' said CFO Anthony Hardwick.

Q: Do you face pressures in cost of labor?

We have very good industrial relations unions in our business. They help us get very good outcomes in how we treat our workers and clients. This is done via side agreements that last through the life of the project and that locks in wage growth and employment conditions.

Q: You had a fantastic 4Q. Can you sustain the margin increase?

We are bidding at the same margins, but we are working hard on project delivery in terms of how we maximize efficiency and minimize risk. I would like to say margins would go up, but it’s really all about delivering the projects. We are working towards net margins of 5% to 6%.

We plan to deliver consistent and stable quarter-on-quarter growth.

Q: What is your hit rate for project tendering?

Historically, the hit rate has been about 50% but that has come off because the projects have grown much bigger. Right now, it is about 20% to 30%.

Q: There is a lot of talk about the capex cycle peaking in the resource sector in two years. How does this affect you?

Yes, there is a lot of talk about the capex cycle peaking in the mining sector. The projects that BHP turned off were still in their early stage that would not hit us until 6 or 7 years later. There are many projects in the pipeline in the next 3 to 4 years.

Estimated capital expenditure on advanced Australian mineral and energy projects. Data from Bureau of Resources and Energy Economics, 29 Nov 2011.

Having said that, our business is very well positioned to service the oil & gas sector, which has multi-billion dollar projects in the pipeline. These include LNG projects in Western Australia that have yet to come into their construction cycle.

We are moving into Queensland, where there are a lot of coal projects. We can do a lot of work in coal, as well as base metals. We feel confident about the future.

Q: What is your borrowing cost?

We borrow cash for working capital. We also have about A$7 million to A$8 million of performance guarantees that we have to pay when we have a big facility made available to us.

In Singapore, our borrowing cost is about 4% in SGD. In Australia, it is about 7% on the Aussie dollar.

Q: What is your dividend policy?

Dividend payout is usually 10% of net profit. However, for FY2012, we had a special dividend of 0.36 cents in addition to the regular dividend because we performed exceptionally well financially.

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khng2012
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30-Aug-2012 17:09

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Be happy, still close at 39.5cents. SGX is so red.

Tomorrow will be a better day.

merlin_magic ( Date: 30-Aug-2012 13:42) Posted:

Can't even break 40c... Lousy Stock....

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