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SINGAPORE: Singapore-listed China Fishery has posted a 6.6 per
cent on-year jump in second quarter net profit to US$25 million, thanks
to lower operating and fuel costs.
Revenue, however, slipped 22 per cent to US$107 million because the
firm decided to even out its vessel utilisation throughout the year in
the North Pacific Ocean, reducing annual costs without reducing annual
catch.
This also meant that the firm's trawling operations were lower in
the second quarter of this year, compared to the same period last year,
leading to a decline in sales.
Looking ahead, China Fishery said it expects to remain profitable as industry fundamentals remain positive.
The firm plans to stake out a higher quota for itself in the South
Pacific Ocean and is considering purchasing or leasing more vessels.
fish lover prices are going up liao!
China Fish (SIN:B0Z) +5.0%; Fishmeal Ops Back in Black-CIMB
| [Date:06-24-2009] |
Source: Dow Jones |
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STOCK
CALL: China Fishery's (SIN:B0Z) fishmeal operations should return to
profitability in 2Q09 on back of firm fishmeal prices and high catch
volume, says CIMB. Broker says trawling sales and margins meanwhile
should be underpinned by sales of fish roe and firm fish prices. Raises
FY09-FY11 earnings estimates by 2%-6% to factor in higher fish prices.
Says upside risks would likely come from better-than-expected execution
in the South Pacific operations where company believes fishing for
Chilean Jack mackerel could potentially generate annual profits of
US$60 million. Broker says given lack of track record, no profits from
new venture included in forecasts at present. Maintains Outperform
rating with S$1.29 target price. Shares +5.0% at S$1.06. (KIG)
78180, what happened to Epure you proposed, keep dropping...sorry guys, not quite the right thread..
All,
Fish is good for you, be it ikan bilis or China Fish or Pac Andes... You can't ignore fish as part of our diet, in fact you need the DHA, calcium and omega from it, if you are not smart enough to eat fish then you wont have heard of DHA unless you drink infant milk formula....then there is China Dairy so Fish and Milk is what our mum and every mum will prescribe to you or thier kid, so cant loose....I say buy...haha where is my glass of milk and my fish and chip fried in Golden Agri Palm Oil.
Have a good dealing day tomorrow. Cheers
Sold off at $1.12 after collecting from 60-65cts since posting in March ...use proceeds to buy Straits Asia Resources,Epure and Bukit Sembawang
787180 ( Date: 27-Mar-2009 12:53) Posted:
In 2007 before 1 for 2 stocksplit which works like bonus issue the counter was pushed to $5.10,this time round hitting $1.00 shd be no problem and downside is limited,now that the bonus issue is on.
knightrider ( Date: 08-May-2007 10:42) Posted:
| Again, u must do your calculation, before split, is at S$5.1, then after split should be S$2.55. Thus if now is at S$2.8, then it went up lor ! This is a good stock to hold. Good Luck. |
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In 2007 before 1 for 2 stocksplit which works like bonus issue the counter was pushed to $5.10,this time round hitting $1.00 shd be no problem and downside is limited,now that the bonus issue is on.
knightrider ( Date: 08-May-2007 10:42) Posted:
| Again, u must do your calculation, before split, is at S$5.1, then after split should be S$2.55. Thus if now is at S$2.8, then it went up lor ! This is a good stock to hold. Good Luck. |
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CIMB
What?s on the table
China Fishery Group (S$2.31) ? Initiating Coverage - Prize catch
Trawling operations form the core of its business, accounting for 65% of 1Q07 revenue. All supertrawlers are linked to vessel-operating agreements (VOA) and are highly profitable with net margins of above 30%. Long-term contracts also provide relatively secure earnings streams and visibility with the earliest expiry for the first three VOAs in 2024. Management is on the lookout for more VOAs, and has been aggressively expanding its fleet of purse seine fishing vessels and fishmeal operations through acquisitions. We believe acquisitions represent the most efficient way for it to leverage management?s extensive experience in industrial fishing and expand operations.
Net profit is expected to jump 122% yoy to US$106.5m in 2007, on full-year contributions from the company?s Peruvian fishmeal operations. Given its strong operating record, 20% share of fishing quotas in Russian waters and significant market position in the Peruvian fishmeal industry, we believe CFG should not be trading at discounts to its global peers, most of which are concentrated in single lines of business. Our target price of S$3.10 values the company in line with the industry average of 13x CY08 P/E, offering potential upside of 34%. Initiate with Outperform.
the price has been holding steady for quite some time,as u all knw this counter used to be very volatile at times,probably it has been pushed south so as to create some buying low opportunity for a buck return cash in . if u have holding power,now could be an opportunity to buy in
Any reason that the fish swim south instead of north?
err..u mean recover to go SOUTH?? hee......
Looking at the chart, ChinaFish look set to recover from the stock split. Hope any TA guys can enlighten further.
hee...wonder y i always got the blessing of successful in SHORTINGs...of cos there are misses too :P this burger is the most shiok SHORTING i ever get excited abt :) hee...
nicky, good job as always...
lpkoh5, this one in my radar. i think it has more downward room before entering.
For medium term outlook this is a good stock to accumulate now....medium term target price at $2.80
wow...any1 shorted at 2.37 this morning? hee...lao sai daily...SHORT until seow :P
hee...did any SHORTED this burger ???? :P seems gd to short siah :P
wah lao sai until 2.41...still bo lang want? hee....gd stock??? hee...for SHORTING !!
Again, u must do your calculation, before split, is at S$5.1, then after split should be S$2.55. Thus if now is at S$2.8, then it went up lor ! This is a good stock to hold. Good Luck.
China Fishery Group having a stock split.
Stock gurus here can comment on any implications?
Fundamentally, I think it has a good management and a very far sighted chief.
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