the tide may be changing for ETIKA in 2012. with raw material price declining thus profit increase
Comparing with the high of 50cents , low of 25cents.....etika may have hit a bottom and starting to pick up momemtum in feb 21 2012. Today it broke the resistance of 27.5cents on the second(2nd attempt) but closed at 27cents. The volume increased by 5 fold. from 0.15 to 0.75m . show sign of confidence. Looking forward to see it cross 30cents.
NEWS RELEASE
ETIKA RECORDS 35.8% RISE IN NET PROFIT TO RM5.4 MILLION IN Q1FY2012
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million
Increase in net profit in line with top line growth of 19.6% to RM246.7
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most raw materials
Slight improvement in gross profit margin with stabilisation of prices of
i have increased my stake in the company. bought 20 lots recently. but be warned that the stock is facing margin pressure and I am not sure if it will relive the high share prices before it announced bonus issues.
Etika International Holdings Limited announced the completion of acquisition for the remaining 30% equity in PT. Sentrafood Indonusa and PT Sentraboga Intiselera at a finalised consideration of Rp24.2 billion (approximately S$3.5 million), for which Rp10 billion has been paid previously.
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F& N builds new plant in Pulau Indah ...Holdings Bhd (F& N) is investing RM350 million to build a new manufacturing facility in Pulau Indah, Port Klang....
SINGAPORE: Singapore-listed Fraser and Neave (F& N) has officially launched its largest food and beverage investment in Thailand so far.
The S$110 million canned milk plant is part of the conglomerate’s strategy to become a leading food and beverage player in the Asia Pacific region.
With the opening of the new plant, F& N expects to double the revenue out of its Thailand dairy operations to S$691 million by 2016.
It also has aggressive plans to increase Indochina revenue for dairy at a rate of 40 per cent to 50 per cent annually.
Located about 70 kilometres outside of Bangkok, the Rojana plant is equipped to serve a consumer base of over 200 million, covering Thailand and Indochina.
Mr Koh Poh Tiong, F& N’s Chief Executive Officer of the Food and Beverage Division, said the plant will also open doors and provide the potential to set up new plants in countries such as Vietnam and Cambodia, as well as tap into opportunities in fast growing economies.
“When the time is right, the volume is right, then we will do the factory, then there is export opportunities to Africa, to Cyprus,” Mr Koh said.
The Thai plant will serve as a blueprint for the group’s new S$150 million plant at Pulau Indah in Port Klang, Malaysia, which is due to be completed in the second half of 2011.
F& N said the two new plants will collectively make the dairies division of the F& N Group the largest canned milk producer in the world.
Mr Koh said: “We will export to the Middle East, to Bangladesh, to Indonesia.
They will feel comfortable, the consumer, because it is from a Halal hub in a Muslim country. So, these two mega plants, I would say, are the anchor of our dairy business.”
For the first half of FY 2010/2011, the Thai dairy business registered a revenue of S$196 million, contributing 24 per cent to the total revenue of Fraser & Neave Holdings Bhd.
Etika is acquiring the remaining 30% equity stake in PT Sentrafood Indonusa and PT Sentraboga Intiselera for Rp24.2b, for which Rp10b has been paid previously.
Both target companies are engaged in the business of instant noodle manufacturing and distribution.
Forgive me for my poor knowledge of accounting, but is " profit attributable to shareholders" equivalent to " net profits" ? It sounds different to me...
Etika International Holdings, one of the world’s largest manufacturers and distributors of sweetened condensed milk and a leading regional Food and Beverage (F& B) group, says profit attributable to equity holders dipped 77.6% y-o-y to RM4 million ($1.68 million) for the first quarter ended December 31, 2010 (1QFY2011).
Group turnover for Q1FY2011 was RM206.3 million, registering a RM42.7 million, or 26.1% increase over the previous corresponding period.
Etika says the higher revenue was due mainly to improved sales performance across all the group’s divisions except the Packaging Division, as well as the inclusion of new Malaysian and Indonesian subsidiaries Family Bakery Group, PT Sentrafood Indonusa and PT Sentraboga Intiselera in the bakery products and instant noodles segments.
Given the current sales volume and revenue for both domestic and export markets which remain encouraging, together with the introduction of a new range of products, Etika is optimistic that a reasonable growth could still be achieved amidst a challenging commodity market environment.
This is one interesting stock to trade. Low floatation of stocks. Not many speculators. It takes only some buying action to spike up the price heavily.
See the charts last year from Mar to Oct 2010.
Overall market correction is Mar to Apr, but this bugger rise against the storm.
i am also tempted to buy more of Etika International. I am currently vested and I see that the current price of 45 cents seems to have priced in the ex-dividend as well as the high raw material prices. That said, it looks like it wont chiong up so fast this year since it is trying to digest all the acquisitions that it has completed, the vietnamese firm being the most obvious.
To declare the payment of a fi nal tax exempt 1-tier dividend of 1.25 Singapore cents per share for the fi nancial year ended 30 September 2010.
record date on 31/1/11 for dividends... 1.25cts.. means 27 Jan is the ex div date? must buy by/on 27 Jan (thu) if wanna be entitled to dividends (cos 31 is monday.. then minus the weekends which are non trading days)?
any one can recommend a good price to enter? is currently 0.46 a good price to enter?
Etika International Holdings Limited (“the Company”) announced that the Company and its wholly-owned subsidiaries, Etika Vixumilk Pte. Ltd., Etika Brands Pte. Ltd. and Etika (NZ) Limited have finalised the purchase consideration of the acquisition of the entire paid-in charter capital of Tan Viet Xuan Joint Stock Company at USD8.8 million.
CIMB maintains ‘Buy’ call on Etika (45c) with 64-ct target price on horizontal integration via M&A
Analyst: Michelle Tan
Adding to its tradtional condensed milk business, Etika has purchased butchery & bakery, instant noodle and pasturized milk businesses in recent months.
Venturing into Indonesia to cross-sell products.
Etika recently acquired the maker and distributor of “Salam mie” and “Cintamie” instant noodles in Indonesia. The acquisition cost amounted to IDR24.2bn (S$3.5m). The group intends to use this as an avenue to broaden its distribution network for its key product – sweetened condensed milk. Management mentioned that they are building up the instant noodle factory in Jakarta and will be converting another factory in Surabaya into a condensed milk factory.
Other acquisitions to maximize distribution network. The group also recently acquired other businesses that bake bread and ready to drink UHT milk to expand the reach of its own brand of sweetened condensed milk to countries such as Indonesia and Vietnam.
Stronger growth expected from completed acquisitions in FY10. We expect revenue to jump significantly in FY11 once FY10’s completed acquisitions start to contribute to group revenue.
Maintain BUY and target price. We maintain our BUY call for the stock and SOP target price of S$0.64. Our target price is pegged to a 10% discount to our sum-of-parts price of RM1.48. We continue to like Etika for its 1) strong growth record; 2) high market share in the condensed milk business in Malaysia; and 3) increasing dividend yield trend.
VEry interesting stock.. Look at the March 2010 period when there was overall correction in the market. Only this bugger kept moving up swiftly against the current of corrections.. This can be a $1.50 stock within the next yr. Vesting soon..!!
pharoah88, its good to know good ppl like u watching this counter too.. thought i was the only few weird ppl who keep this on my watchlist.. R u vested into this??
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