Mainboard-listed Goodpack Limited, the world’s largest provider of reuse Intermediate Bulk Containers (IBCs) packaging solutions, announce today results for the six months ended 31 December 2010 (1HFY2010/11).
Revenue for 1HFY2010/11 registered a growth of 22.4% to US$71.3 million ($91.2 million) (1HFY2009/10: US$58.3 million) due to increased penetration in existing markets as a result of new customer conversion and increased demand from existing customers.
EBITDA for 1HFY2010/11 grew 19.5% to US$34.6 million (Q1FY2009/10: US$29.0 million) while the group’s profit after tax for 1HFY2010/11 grew 23.1% to US$21.2 million (Q1FY2009/10: US$17.2 million).
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Value Investors will probably be confused by this Goodpack whether sell or buy more.
http://mystocksinvesting.com/singapore-stocks/goodpack/goodpack-resistance-at-1-67/
I think another good counter to consider ..
| Goodpack posts 23% rise in half-year net profit to US$21m |
| WRITTEN BY THE EDGE |
| MONDAY, 14 FEBRUARY 2011 17:57 |
Goodpack is trending higher, buying interest is increasing. Target Price S$2.60
Goodpack Ltd
1QFY Jun11 Results Strong start to the year
Goodpack kicked off its financial year with steady 1Q numbers, which
put the group on track to meet our high expectations. The yoy growth
of 32% surpassed our full‐year expectation of 29%, but we note that
this could be because of a low base a year ago, as demand recovery
really took off in the second quarter of the last financial year.
Our View
Net profit for 1QFY Jun11 increased by 32% yoy to $9.7m, led by
revenue growth of 35%. Margins continued to improve with
operating margin rising to 35.5% (FY10: 34.6%) and net margin up to
27.8% (FY10: 27.3%).
Growth was fuelled by sustained demand recovery and penetration
into the transport of products such as ink. While Goodpack does not
benefit directly from the record‐high rubber prices, we believe they
make it easier for management to negotiate a better pricing for new
contracts.
With the decision to fund further fleet expansion via lease financing
from its partner CIMC instead of buying outright, cash flow has
improved significantly. During the quarter, net increase in cash
excluding loans was US$12.1m, reducing net gearing to 0.26x from
0.34x and boosting cash war chest to US$88.5m. Management said
this cash hoard will allow the group to finance a major IBC fleet
expansion when demand from the auto sector warrants it.
Action & Recommendation
We maintain our estimates which assume net profit CAGR of 27% over
the next three years. Our target price is raised to $2.48, pegged at 25x FY
Jun11F, which still translates to a PEG of less than 1. We expect the main
catalyst going forward to be sizeable contracts from the auto sector,
which management is working hard to break into. Reiterate BUY.
Source: Kim Eng
Make Love More, Don't Make More Enemies
Goodpack
Neutral | $1.94
CIMB downgrades from Outperform on the view that the near-term growth prospects for the supplier of intermediate bulk containers have been priced in. Still, it lifts the target price to $1.94 from $1.89, based on 19X FY11 P/E, after increasing the FY11-12 earnings estimates by 0.1 to 2.4 per cent to factor in higher utilisation assumptions.
Goodpack is forming a wedge. maybe a good trade buy near support, sell near resistance.
Cut loss when breakdown from the wedge support.
http://mystocksinvesting.com/singapore-stocks/goodpack/goodpackforming-a-wedge/
Have reached its support line. Support - 1.61, Resist - 1.82, Watchout for H&S. ; )
Agree?
Cheers.
There is strong buying by investors. Should be treading upwards in the coming weeks !!! Buy-and-hold for long haul !!!
Wah 21 cents difference? Big difference.
susan66 ( Date: 17-Feb-2010 12:25) Posted:
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Bullish counter, up all the way, can take note!
Recently just bought, today looks good, just taken profit at 1.47.
Yesterday AGM passed all the matters including 3c dividends and rights to warrant at 22c.
Just check a big buy queue at 1.22. Based on current price of 1.23 and if you pick up and exercise the warrant (total 90c), you would have made 33 cents per share.... Wow.....and add another 3 cents dividend
Think this is your chance and if you miss it, too bad.....
This week Goodpack has a good run. On 28 Oct 09, CD will appear beside the company name and holders would be rewarded 3c per shares.
I would see this counter to continue its run towards $1.50. Do not forget that shareholders are get the rights to warrant and exercise it at 68c. This would make a good profit.
If you are still sideline, you have lost a lot since I start calling it.
this week goodpack has a good run. It wont be long to see $1.50 soon
It is a good sign for Goodpack. Price increases with increased volume. After AGM on Oct 27, you will be pleased to see CD quoted. And next is the warrant issues..... Lots of positive. Warrants to convert at 80c..... STRONG BUY
Performance today not bad. Hope it goes above $1.20 soon.