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Profit guidance was posted by the company last 2 weeks (17 Aug), which is very bad.
"The Board of Directors of Novo Group Ltd. (the “Company” and together with its subsidiaries, the “Group”) wishes to inform that due to the slowdown of economic recovery, the Group expects to report a lower profit for the first quarter ended 31 July 2010 as compared to the corresponding period.
However, the company announced div of 0.5 cent just now.
Really don't know how the market will react to both the news above.
melchamp ( Date: 27-Aug-2010 17:15) Posted:
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very quiet here despite some movement today. i asked around, seems listing in hk takes min 4 months, normal about 6 months.
if so, we might need to wait till Sep or Nov? any comments from anyone, pls?
any news on its dual listing plan?
..... ding ding ding .....
Please don't disappoint your investors...Novo Group.....
risktaker ( Date: 22-Jun-2010 11:24) Posted:
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EPS likely to increase for FY 11
Revised TP: 0.36 - 0.40 - 16X PE
CIMB TP: 0.41 if i remember correctly.
Its cheap to buy @ current level.
MacG1424 ( Date: 22-Jun-2010 10:28) Posted:
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Target Price: 0.30
Based on 11x PE FY11
Novo Group registers 667% jump in Net Profit at US$ 12.0 million in FY2010
Group declares cash dividend of 0.5 Singapore cents
The Group revenue for FY2010 was US$ 403.0 million, a 23% decline from FY2009 revenue of US $523.7 million. The Group’s net profit in FY2010 soared by 667% to US$ 12.0 million compared to net profit of US$ 1.6 million in FY 2009. Gross profit margin in FY2010 increased to 13.8% from 8.8% in FY2009.
The main bulk of the Group’s revenue in FY2010 came from sales of its raw materials such as iron ore and coal. In FY2009, raw materials contributed 24% of the Group’s revenue but in FY2010 the percentage share of raw materials to Group revenue increased to 60%. This growth is propelled by the strong demand for raw materials in PRC in FY2010.
Good enough for dual listing???
is there any report on Novo? any idea when will full year result be out? nothing in sgx or novo's website.
disappointing day with seller keep coming out at 0,215.
+++++++++++++++++++
Recommend to Buy now
TP(0.25 -0.32)
+++++++++++++++++++
Recommend to Buy now
TP(0.25 -0.32)
any target price? hope it can hit 27 cents.