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Ai Yo.....
Got PROFIT also complaint.......
PROFIT drop is mainly due to the bad debt provision, but not 100% write off as they are getting back thru court and is progressively doing well. Should be able to recover the bad debt.....and write it back.....
Outlook is better from now.......
Once the Bad Debt is being recover, RTO will turn on the button
4QFY13 net profit decimated 94% to A$0.5m y/y, as a result of lower gross margin (-1.5 ppts), a share of loss from a joint venture and increased finance costs. Revenue sank 22% to A$137.6m as the group was impacted by decreased activity in the resource sector. This was due to major resource companies scaling back capital expenditure in response to volatility in commodity prices as well as customer delays in awarding contracts in the oil and gas sector. For FY13, earnings crumbled 58% to A$9.7m while revenue dipped 8% to A$582.7m mainly from lower contributions from integrated services to A$160.1m (-50%).
Notably, Ausgroup had a negative cash from operations of A$27m compared to A$37.1m achieved in the previous corresponding period, which could portend a potential cash raising in the year ahead, having just A$11.7m cash left in its books. Consequently, the decreased activity and cash drain resulted in a full cut in dividends for FY13, compared to the total dividend of 1¢ in FY12. Recently, Ausgroup made a sale-and-leaseback on its fabrication facility in Singapore for A$33m. The sale is expected to complete in Sep, subjected to conditions which include the approval by Jurong Town Corporation.
Ausgroup expects revenue to continue on a slide due to the downturn in the iron ore and coal sector, as well as the delay in award of contracts within the oil & gas sector. The group intends to focus on lowering its cost structure, to extend its services in the oil & gas market and maintenance services. The group currently has order book of A$200m. At the last closing price of $0.35, Ausgroup trades at a steep 15.2x trailing P/E, almost double compared to its closest peer Civmec of 8.8x. Investors could expect a negative share price reaction for Ausgroup, due to the current wide valuation gap between the two companies.
AusGroup's fourth quarter net profit slumped by 93.6 per cent to A$525,000 (S$605,000).
http://infopub.sgx.com/FileOpen/AusGroupFY2013ResultsMediaRelease.ashx?App=Announcement& FileID=253945
AusGroup (C:53.5 H:56 L:53 V:12.7)
For short term, any hope of recovery?
There are more weaknesses in the coming weeks. Although quoted this post out of its time frame but then the question asked is still relevant for the current price movement. For short term, there is more downside judging from the two bearish candles, dark cloud and bearish engulfing on the 27/3 and 12/4 respectively. The latter signal is clear and strong with moderate volume with the formation of a lower high. There is selling but not too severe, probably a knee jerk reaction from the loss of the WA LNG contract.
Immediate support will be at 51cts followed by 48.5cts. The next basement level is 44.5 which will be at its NAV of 44.4cts. Strong support will be found here. Smart money is flowing in as the CMF had formed high high and high low which turned positive recently. Current price weakness and overall market bearish sentiment as we moved toward May present a good opportunity to accumulate this counter. AG has good potential growth as shown by the 84% jump in revenue between Y2012-11.
The recent contracts win albeit small but if executed well will lead to more lucrative contracts. Together with its low debt/ratio and good position in the oil and gas industry, AusGroup is a company with good fundamental and potential growth. The dual listing or the prospect of it has been the catalyst that market is waiting for but this should not be the case. Investors should buy AG on its own merit and if the dual listing, if it does happen is just the icing on the cake.
keep watching...
ausgroup do watch for it
chiong arh ausgroup $0.345/0.35
ausgroup retesting 35cents resistance
mega correction 40c to 355 that's more than 10% down..
Hope he could help move the stock to fly uptrend...
Geronimo ( Date: 25-Feb-2012 13:58) Posted:
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For short term, any hope of recovery?
Hoping that Ausgroup will be stronger next week.. after a weekend of rest. :-)
today everything also dropped... just drop how much.
alamak wat happen ausgroup still dropping??? any news?
Nice volume today. Hopefully Ausgroup will be awarded with big contracts
Still holding mine at 0.41, very undervalued to me. Waiting for at least 0.45 to 0.50 before offloading, not sure if it will hit that high but i got holding power and am prepared to wait.
Is time to exercise patience or wisdom... wondering???? advise.. anyone???
Profit gone oredi now have to wait long long again.............................
New CEO on board from 12th March.
Expectation is 65c by end of June.