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1-11 of 11
up a bit recently..shall i let go or keep soaking...
Global Palm Resources posts 34% jump in 1Q net to $2.2m
Global Palm: 4Q10 results in-line but expansion disappoints
Summary: Global Palm Resources (GPR) reported its 4Q10 results yesterday, with revenue rising 19.6% YoY and 30.0% QoQ to IDR94.5b, buoyed by higher crude palm oil (CPO) average selling prices and improved production yields. Reported net profit fell 31.2% YoY but rebounded 511.7% QoQ to IDR66.8b this is mainly due to a 35.2% YoY fall in bio-asset revaluation gain in 4Q10, versus none in 3Q10.
However, if we exclude the impact of the revaluation gain, we note that its core earnings would come in around IDR22.2b, or 1.1% shy of our forecast. For the full year, revenue fell 4.7% to IDR287.2b, coming in within 0.3% of our forecast, while reported net profit fell 38.6% to IDR89.0b. Excluding bio-asset revaluation, core earnings came in around IDR44.4m, or 0.6% below our estimate. GPR also declared a first and final dividend of S$0.0016 per share, payable on 27 May 2011.
We will be speaking with management later to get more updates, especially about its expansion plans, given that it has only added 693 ha of new plantings last year to increase its total planted area to 12,229 ha. Recall that GPR had raised S$50.6m last year, with S$30m to double its plantation size within three years. For now, we place our HOLD rating and S$0.40 fair value under review. (Carey Wong)
PE<6
Any idea whats the PE now since you say its low?
Henry$$$ ( Date: 03-Jan-2011 14:16) Posted:
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Breakout. Stay focus and it is cheap
Stay focus. Low PE.
Under value oil palm play.