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Comparing 1Q & 2Q 07 operating results
1Q07 2Q07
Revenue 95,078 107,131
Operating Profit 11,230 20,104
Margin % 11.8% 18.8%
The margins in 2Q is much better than 1Q due to higher room rates.
1H06 eps was 6.1 cts per share.
My forecast for 2H07 eps from operations to be about 2.5 cts. In 3Q 07, Co. will book non operating gains from Hotel Asia (approx 1.35 cts per share) and Somerset Bayswater (1.08 cts).
Therefore FY07 results is expected to be about 11.03 cts per share....this is better than FY06 of 9.5 cts by about 16%.
Caveat emptor.
alexmay,
I don't think the accident was at that building..... can someone clarify?
Remember the Asia Insurance building Ascott bought and developing it into a hotel or service apartment. Correct me if I am wrong, the other day there was an accident that caused a death of a man. I think this could be the reason, have no heard since what happening to the accident. Just a guess.
Something is just not right! Anyone care to comment?
Eh eh, what is happening to this counter? I thot some months ago, analyst has a TP of over $2.20 for this counter. Results will be out this Friday. But for now, it's......
Net gain on PROPOSED DIVESTMENT OF 6 SARKIES ROAD approximately S$20 million!
Latest announcement from SGX
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_F509B0AB8C4D8B3B482573750037E35C/$file/TAGL_Sarkies_Road.pdf?openelement
THE ASCOTT GROUP LIMITED
( Incorpo rated in the Repub l i c of Singapo re)
Compan y Re gi st rat ion No: 197900 881N
ANNOUNCEMENT
DATE OF RELEASE OF UNAUDITED FINANCIAL RESULTS FOR THE
PERIOD ENDED 30 SEPTEMBER 2007
The Company wishes to announce that it will release its unaudited financial
results for the period ended 30 September 2007 on Friday, 26 October 2007
before 7.30 a.m.
By order of the Board
Hazel Chew/Lam Chee Kin
Joint Company Secretaries
Singapore, 11 October 2007
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_48BFA72772D010AA48257371000F415A/$file/TAGL_Date_3Q_Results.pdf?openelement
News update.....
The Business Times - October 9, 2007, 9.40 pm (Singapore time)
Economy not overheating, inflation under control: PM Lee
BUDAPEST, Hungary - Singapore Prime Minister Lee Hsien Loong
on Tuesday said the country's economy was not overheating, with
inflation under control despite firm economic growth.......
.........Regarding Singapore's economy, Mr Lee said he did not believe it
was 'overheating'. 'This year we expect 7 to 8 per cent growth.
It's a good figure but at the same time inflation is well under control.'
He acknowledged that property prices had increased rapidly and
that there were shortages in office rentals, which the government was
trying to solve by, for example, building interim office space.
'In the medium term we will have enough supply but in the short term
there is a problem because so many businesses want to set up in
Singapore,' Mr Lee said after officials from the two countries signed
cooperation agreements on economic, scientific and educational
matters. -- AP
Curtis Bergh, 08 Oct 2007
The Ascott Group has landed a management contract from Amtel Properties Development for a new Citadines property in the Georgian capital of Tbilisi, the first serviced residence in the country.
The 65 unit property will be named Citadines Tbilisi Freedom Square and will open in the second half of 2008.
Ascott says that it feels it is the right time to enter the Georgian market given the countries efforts to boost foreign direct investment.
Analysts' surveyed by Reuters have on average an 'outperform' call on the stock with a price target of S$2.30, compared to its last traded price of S$1.64 a share, up S$0.03, or 1.86%.
The Ascott Group has landed a management contract from Amtel Properties Development for a new Citadines property in the Georgian capital of Tbilisi, the first serviced residence in the country.
The 65 unit property will be named Citadines Tbilisi Freedom Square and will open in the second half of 2008.
Ascott says that it feels it is the right time to enter the Georgian market given the countries efforts to boost foreign direct investment.
Analysts' surveyed by Reuters have on average an 'outperform' call on the stock with a price target of S$2.30, compared to its last traded price of S$1.64 a share, up S$0.03, or 1.86%.
Mean Rating is 2 (OUTPERFORM from 5 Analyst Recommendations-Reuters)
http://stocks.us.reuters.com/stocks/recommendations.asp?symbol=ASOT.SI&WTmodLOC=L2-LeftNav-24-Recommendations
Hi, anyone have the info for the divestment gain of Somerset Bayswater London
and financial terms of the contract won-Tsesna Corp ?
Mon Sep 24 03:49:00 EDT 2007 Reuters
The Ascott Group Limited Completes Divestment Of Somerset Bayswater In London
The Ascott Group Limited announced the completion of divestment by the Company's
indirectly held joint venture companies (in which the Company has a 50% stake) of the
property known as Somerset Bayswater located in London, United Kingdom.
Tue Jul 31 14:11:00 EDT 2007 Reuters
The Ascott Group Limited Announces Contract Win
The Ascott Group Limited announced that it has secured management contracts for two
prime serviced residences in Kazakhstan's capital city of Astana, and Aktau. The
Company has been awarded the contracts by Tsesna Corporation. Financial terms
were not disclosed.
Tue Jul 17 14:53:00 EDT 2007 Reuters
Capitaland Limited's Subsidiary The Ascott Group Limited Announces Completion Of Sale Of Hotel Asia
The Ascott Group Limited a subsidiary of Capitaland Limited has announced that through its subsidiary,
SH Malls Limited, had entered into a sale and purchase agreement for the sale of its freehold property in
Singapore known as Hotel Asia for a total consideration of SGD147.0 million. The Company is pleased to
announce that the Divestment was completed on July 17, 2007.
http://stocks.us.reuters.com/stocks/keyDevelopments.asp?symbol=ASOT.SI&WTmodLOC=L2-LeftNav-12-KeyDevelopments
strong agree, ascott is still very much undervalue......buy now b4 it's too late
Capitaland has back to above $8.00 level, Ascott would be the next soon...
MACD start going up.. (TP $2.16 DBS Vickers refer Post on 11/Jul/07
"Ascott Rises on Jennie Chua's appointment " by deedee)
News update....
The Business Times
October 5, 2007, 8.54 am (Singapore time)
UBS gives S'pore hospitality plays 'buy' rating
SINGAPORE - UBS has initiated coverage on three Singapore hospitality
plays with a 'buy' rating, citing bullish hotel rates and tourism-boosting
projects such as the Formula One race and two casinos.
'We believe companies with residential, retail and office exposure are
likely to outperform in the hospitality sector,' said UBS analyst Tata Goeyardi.
UBS said Amara Holdings and Ascott Residence Trust were its top picks
among owner-developers, with target prices of $1.22 and $2.20 respectively.
The investment bank had a target price of $2.71 for CDL Hospitality Trusts,
its top pick among hospitality trusts. -- REUTERS