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Westcomb gave a target of 60c after latest results. No wonder price fell. These days most companies reported results below expectations and most targets have been lowered. Better do your homework before buying any stock. I discovered that it is also very risky to buy in anticipation of good results based on what analysts say. Several times I have been fooled by their so called targets.
Ynot! they use CFD to short and buy back today.
if not.. well there is some trade secret they can go abt doing so too...
lol. terence, fundamentals don't quite matter in a shaky market. if funds sell, any counter, no matter how good the results, will drop.
results matter in a recovery, when people choose what to buy.
cheers.
Philips TP 0.85
OCBC TP 0.70
Business segment 2007 2006
Revenue S$'000 S$'000
Oil & Gas 126,203 74,617
Marine 95,435 74,382
Mining & General Hardware 9,772 6,508
Total 231,410 155,507
ATS Group 31.12.2007 31.12.2006 % Change
S$'000 S$'000
Revenue - First Half Year 87,465 67,400 +30%
Revenue - Second Half Year 143,945 88,107 +63%
Revenue - Total 231,410 155,507 +49%
Profit after tax before minority interest - First half Year 4,993 2,712 +84%
Profit after tax before minorityinterest - Second Half Year 7,399 5,274 +40%
Profit after tax - Total 12,392 7,986 +55%
Commenting on the outlook for Aqua-Terra in FY2008:
?The increased oil exploration and production activities that we are witnessing across Asia will
create new opportunities for us,? said Mr.Kris Wiluan, Chairman and CEO, ?and with our
order book exceeding $100 million as at the end of January 2008, we are optimistic of
Aqua-Terra?s ability to achieve better results in FY2008.?
NEWS RELEASE
AQUA-TERRA REPORTS 55% RISE IN NET PROFIT
?
Revenue rose 49% to $ 231million?
Net profit after tax rose 55% to $12.4 million?
Group?s order book exceeds $100 million at end of January 2008?
Proposed final dividend of 0.5 cents per ordinary shareSINGAPORE, 27 February 2008
Limited (?Aqua-Terra? or ?ATS? or the ?Group), today announced that its net profit
after tax for the full year ended 31 December 2007, rose from $8.0 million (FY2006)
to $12.4 million, representing an increase of 55%.
For the financial year ended 31 December 2007, the Board recommends a dividend of
0.5 cents per ordinary share, subject to the approval of the shareholders at the
forthcoming Annual General Meeting.
Aqua-Terra?s strong performance this year is attributable to the growing demand in
the region?s oil and gas industry, higher share of profit from its associate company -
SSH Corporation and contributions from its newly acquired subsidiaries.
Revenues for FY2007 rose 49% from $156 million (FY2006) to $231million. The
higher revenue is attributable to contributions from the newly acquired subsidiaries,
namely, Raymonds Supply Co., Ltd (?RSC?) and Fischer Engineering Pte Ltd
(?FEPL?).
By business segment, contribution from the oil and gas business accounted for about
55% of the Group?s total revenue reflecting the vibrant demand in this industry.
Contribution from the marine business was about 41% and the balance comprises
contribution from the mining and general hardware business.
2
Operating expenses were higher this year, due primarily to the increased business
activities and the consolidation of the expenses of RSC and FEPL. Total operating
expenses in FY2007 rose 33% to $28.8 million (FY2006: $21.6 million). Financing
expenses rose from $1.3 million (FY2006) to $1.8 million due to the increase in bills
payables.
The Group?s net gearing at the close of FY2007 stood at 0.2 times (FY2006: 1.0
time). Trade debtors and inventory turnovers stood at 96 days (FY2006: 80 days) and
80 days (FY2006: 72 days) respectively.
Net increase in cash during the year amounted to $6.0 million compared to a net
decrease of $2.9 million in the previous financial year. Cash and cash equivalents
stood at $14.1 million as at end 31 December 2007 compared to 8.1 million at the
close of FY2006.
Commenting on the outlook for Aqua-Terra in FY2008:
?The increased oil exploration and production activities that we are witnessing across
Asia will create new opportunities for us,? said Mr.Kris Wiluan, Chairman and CEO,
?and with our order book exceeding $100 million as at the end of January 2008, we
are optimistic of Aqua-Terra?s ability to achieve better results in FY2008.?
The Board of Directors of Aqua-Terra Supply Co. Limited (the ?Company?) wishes to inform that the Company will be releasing its financial results of the Company and of the Group for the year ended 31 December 2007 on Wednesday, 27 February 2008.
By Order of the Board Lawrence Kwan Company Secretary 21 February 2008
Philips Securities give ATS a BUY CALL today @ 0.85
OCBC securities give ATS a BUY CALL today @ 0.70
Details please refer to the link below:
http://www.remisiers.org/research.html