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Not vested....But why OCBC wanna make this kind of remarks? Get paid and too free?
OCBC maintains Sell with $0.77 TP. Note that while share price seemingly poised to cross the S$1 barrier again, remain steadfast in analysis and assertion that valuations are stretched at current levels. While the group?s growth proposition appears attractive, realizing future potential takes time, and more importantly, carries significant operating and execution risks. Its operating margins have also remained in the low single-digit region. Furthermore, the group?s valuation is expensive when compared to more established regional peers that compete in the same markets. House maintain SELL rating and will look to re-rate the stock only when its margins arrest their decline and operations approach a steady-state. A takeover angle at this juncture is also unlikely as house do not envision MINT launching a takeover bid anytime soon in the coming quarters at current price levels.
BreadTalk 2Q13 results came in below expectations despite revenue increasing 20.7% YoY to $126.5m. Higher operating expenses (+19.5% YoY to S$66.1m) ? related in part to an ongoing restructuring exercise for its restaurant segment ? caused operating profit to fall 15.1% YoY to $3.8m and operating profit margin to slide 1.2ppt to 3.0%. Net profit came in almost flat (+0.7% YoY) at $3.0m, missing estimates by about 10%, for a net margin of only 2.4% versus 2.9% a year ago. In light of its 1H13 performance, mgt declared an interim dividend of 0.5 cts, unchg yoy. Similar to the previous qtr, BreadTalk?s bakery and food court operations continue to show improvements across the various geographical locations. The main concern remains with the restaurant division, which saw sustained pressures related to the nonperforming Ramen Play restaurants and Carl?s Jr outlets in China, as repositioning efforts over the past two years have failed to improve the appeal of both restaurants. OCBC notes margin improvement for 2H13 is unlikely given the ongoing store expansion (60 stores added in 1H13). In addition, investors will have to contend with higher interest expenses related to the financing of its new HQ, and the possibility of additional restructuring expenses for its two nonperforming restaurant brands. The house reduces 2H13 earnings forecasts slightly and maintains SELL with TP $0.77.
enjoy eating tim sum at terminal 21:)
Octavia ( Date: 02-Jul-2013 21:44) Posted:
No Co. specific news today to explain its rise in share price, although do note that volume is pretty light with just 196k shares traded. Latest news on grp was its qtrly results where 1Q13 earnings grew 15% y/y to $1.6m, alongside a 13% growth in revenues to $120.3m, driven by a broad-based growth across all business segments. Pretax margins improved to 2.8% from 2.4% in 1Q12 despite inflationary cost pressure on food, labour and rentals.
The group remains focused on tweaking its labour needs following tighter foreign labour restrictions in Singapore and rising rental and food costs, and looks to sustain profitability through cost rationalisation and productivity enhancement. Note that the grp is a persistent speculation of it being a takeover target after Thailand’s Minor International, raised its stake to 10% in early Apr. |
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No Co. specific news today to explain its rise in share price, although do note that volume is pretty light with just 196k shares traded. Latest news on grp was its qtrly results where 1Q13 earnings grew 15% y/y to $1.6m, alongside a 13% growth in revenues to $120.3m, driven by a broad-based growth across all business segments. Pretax margins improved to 2.8% from 2.4% in 1Q12 despite inflationary cost pressure on food, labour and rentals.
The group remains focused on tweaking its labour needs following tighter foreign labour restrictions in Singapore and rising rental and food costs, and looks to sustain profitability through cost rationalisation and productivity enhancement. Note that the grp is a persistent speculation of it being a takeover target after Thailand’s Minor International, raised its stake to 10% in early Apr.
BreadTalk opens Danish pastry-inspired HQ
BreadTalk Group officially opened its International Headquarters in Paya Lebar iPark at Tai Seng Street today.
BreadTalk IHQ will house the group’s corporate office, R& D
laboratories, training academy, warehousing facilities and central
kitchens of its various food businesses.
Designed by award-winning local architect Tan Kay Ngee, the 10-storey
building is inspired to look like themany delicate layers of a Danish
pastry.
The $64.1 million BreadTalk IHQ is also a lifestyle-and-dining hub in
north-eastern Singapore that occupies a land area of 7,000m2
and serves as the nerve centre of the group’s global operations and
support platform to accelerate its future expansion.
Prominently fronting the Paya Lebar/MacPherson thoroughfares, BreadTalk
IHQ will feature a food hub on the ground floor that showcases the
group’s stable of F& B brands: Din Tai Fung, RamenPlay, BreadTalk,
Toast Box and Food Republic.
The design of the food hub is inspired by old Chinese courtyards (Si He Yuan) that can accommodate more than 550 diners.
Diners are able to stroll down a bustling traditional food street
occupied by the group’s various F& B brands on both sides. There will
also be retail floor on the second storey of BreadTalk IHQ which is
expected to be operational by July.
...Last Done: $0.965...
BreadTalk (5DA) has been showing support around 0.82 and resistance in the 1.055 price range. The technical indicator shows a buy with the 1.232 target price in six months.
http://sgx.stoxline.com/quote.php?s=5da
Break 1.03 for reversal trend. Watch.
Yes. trust your homework, analyst just base on the past, and project into the unforseen future, which are no gurantee.
U see kreuz, one guy said 58c tg px by DBS, wait till he see 70c abv soon,
infancybird ( Date: 09-May-2013 18:52) Posted:
Agreed. The so called analyst cannot be smarter than insider , i referred to the Thai gp MINT who are buying up breadtalk from 60 ct to even 89 cts over the last few months. Breadtalk has future, likely to go pass $1.00 soon. Do you recalled many analysts now still calling Singpost a sell & sell and in the midst of their shouting Singpost keep breaking record to $1.345 in today`s trading, highest in history. If u believe fool heartedly in analyst forcast and sold their singpost at $1.12....u will be banging your head. Just use their comment as a reference.
kelvinLim123 ( Date: 09-May-2013 17:39) Posted:
Just ask yourself? are u smart? if we are , then why are we doing here?
Likewise, if they(analyst) are accurate, do u think they will still be analyst?
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Agreed. The so called analyst cannot be smarter than insider , i referred to the Thai gp MINT who are buying up breadtalk from 60 ct to even 89 cts over the last few months. Breadtalk has future, likely to go pass $1.00 soon. Do you recalled many analysts now still calling Singpost a sell & sell and in the midst of their shouting Singpost keep breaking record to $1.345 in today`s trading, highest in history. If u believe fool heartedly in analyst forcast and sold their singpost at $1.12....u will be banging your head. Just use their comment as a reference.
kelvinLim123 ( Date: 09-May-2013 17:39) Posted:
Just ask yourself? are u smart? if we are , then why are we doing here?
Likewise, if they(analyst) are accurate, do u think they will still be analyst?
candle ( Date: 09-May-2013 17:15) Posted:
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How accurate are these analysts. |
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Just ask yourself? are u smart? if we are , then why are we doing here?
Likewise, if they(analyst) are accurate, do u think they will still be analyst?
candle ( Date: 09-May-2013 17:15) Posted:
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How accurate are these analysts. |
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Lai ah... Lai ah... One bread for $1...
Not vested... I agreed with akchua...
How accurate are these analysts.
1.6m profit out of 120 m revenue, the profit margin is less than 2%. If the market turn against them, break talk will see red immediately. This stock is super overvalued their NAV is only 30.1 cents. Anyway, construction stock selling below 30 cents yield 3 million profit a quarter is a better buy, at least government is going to build more infrastructures and housing units.
guoyanyunyan ( Date: 09-May-2013 09:16) Posted:
BreadTalk posts 15% rise Q1 earnings to $1.6milSGX-listed BreadTalk Group, the F& B group, said group net profit attributable to shareholders rose 14.9% to $1.6 million in the first quarter ended 31 March 2013 (1Q 2013) from $1.4 million in 1Q 2012 in spite of cost pressure on food, labor and rental expenses.
Group revenue grew 13.4% to $120.3 million in 1Q 2013 from $106.1 million in 1Q 2012. Bakery Division revenue and bottom-line improved by 10.7% and 4.7% respectively. Revenue grew across all markets while the improvement in PATMI in Singapore, Hong Kong and Thailand helped to defray lower earnings in other markets.
Food Atrium Division turned profitable during the quarter on the back of revenue growth experienced in all markets except Taiwan, stronger profit contributions from Mainland China, Hong Kong and also the turnaround in Singapore following the normalization of business after the completion of renovation and upgrading works at two major malls carried out by the landlords.
Restaurant Division PATMI dipped 8.8% despite a 10.1% growth in revenue. Din Tai Fung Singapore and Thailand continued to show positive growth while Ramen Play and Carl’s Junior are being repositioned and fine-tuned.
As at March 31, the group’s network (including franchise) expanded to 627 Bakery outlets, 50 Food Atria and 35 Restaurants.
...Last Done: $0.995...
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BreadTalk posts 15% rise Q1 earnings to $1.6milSGX-listed BreadTalk Group, the F& B group, said group net profit attributable to shareholders rose 14.9% to $1.6 million in the first quarter ended 31 March 2013 (1Q 2013) from $1.4 million in 1Q 2012 in spite of cost pressure on food, labor and rental expenses.
Group revenue grew 13.4% to $120.3 million in 1Q 2013 from $106.1 million in 1Q 2012.
Bakery Division revenue and bottom-line improved by 10.7% and 4.7% respectively. Revenue grew across all markets while the improvement in PATMI in Singapore, Hong Kong and Thailand helped to defray lower earnings in other markets.
Food Atrium Division turned profitable during the quarter on the back of revenue growth experienced in all markets except Taiwan, stronger profit contributions from Mainland China, Hong Kong and also the turnaround in Singapore following the normalization of business after the completion of renovation and upgrading works at two major malls carried out by the landlords.
Restaurant Division PATMI dipped 8.8% despite a 10.1% growth in revenue. Din Tai Fung Singapore and Thailand continued to show positive growth while Ramen Play and Carl’s Junior are being repositioned and fine-tuned.
As at March 31, the group’s network (including franchise) expanded to 627 Bakery outlets, 50 Food Atria and 35 Restaurants.
...Last Done: $0.995...
Have you loaded up yet?
Grp announced that it has entered into a JV with a consortium of investors comprising Perennial Real Estate Holdings, Bright Assets Enterprises, Ace Novel Developments (subsidiary of Shun Tak Holdings), Mr Ron Sim and Mr Ronald Ooi both in their personal capacities, in connection with the development of a mixed-use project on three plots of land in BJTZ namely plots 10, 11 and 12 (collectively known as “Phase 2”). The grp will subscribe for 14,520 ordinary shares in the capital of Perennial Tongzhou at $1,000 per share, with its total investment amount at $14.5m. Add that PRC is a key market for the Group’s future growth and this investment will help to build its presence in a major city where it operates its own stores in addition to benefiting from asset appreciation in the future. The Proposed Investment would also give the Group a first right of refusal to prime retail space to showcase all or some of its brands, including new concepts, and allows the Group the opportunity to integrate upstream along the retail supply chain by co-investing with industry veterans in markets that are crucial to the Group’s growth.
Breadtalk invests S$14.5m in Beijing property JV
Breadtalk on Wednesdaysaid its wholly-owned subsidiary Imagine Properties Pte Ltd has entered into a joint venture with a consortium of investors to subscribe for 14,520 ordinary shares in Perennial Tongzhou Holdings Pte Ltd (PTHD) at S$1,000 per share.
Total investment amount for the joint venture from Breadtalk is about S$14.5 million.
The joint venture will develop three plots of land in Tongzhou District of Beijing, China.
The proposed investment from Breadtalk will represent a 5.86 per cent equity interest in PTHD, which translates into a 2.93 per cent stake of the Beijing Tongzhou Integrated Development.
Takeover? I don't think the founder will sell away his more than 50% of shares. As for the business, it has successfully move from selling bread to F& B business. Its food court is one of the best in Singapore. Looking at longer term, I m not surprise its share price level will be more like Osim and Super group.
