Stock Name: Eratat
Company Name: ERATAT LIFESTYLE LIMITED
Research House: SIAS
SIAS Research in a May 11 research report says: "Eratat's 1Q FY2011 results surprised us again with net attributable profit growing by 90.7% y-o-y on the back of revenue growth of 28.3%. Eratat ended 1Q FY11 with 42% of its Spring/Summer order book of RMB477 million delivered.
"With the remaining orders expected to be delivered in 2Q, we expect 2Q to be more than 30% better than 1Q, in terms of both sales and profits. Eratat's order book of RMB40 million will also be delivered in 2Q FY2011, which will propel Eratat's 2Q performance further upwards.
"The completion of Eratat's recent placement of 60 million new shares at 20.2 cents has, in our opinion, provided the company with the working capital to grow in 3Q and 4Q 2011. Intrinsic value of 43 cents. MAINTAIN INCREASE EXPOSURE."
Company Name: ERATAT LIFESTYLE LIMITED
Research House: SIAS
SIAS Research in a May 11 research report says: "Eratat's 1Q FY2011 results surprised us again with net attributable profit growing by 90.7% y-o-y on the back of revenue growth of 28.3%. Eratat ended 1Q FY11 with 42% of its Spring/Summer order book of RMB477 million delivered.
"With the remaining orders expected to be delivered in 2Q, we expect 2Q to be more than 30% better than 1Q, in terms of both sales and profits. Eratat's order book of RMB40 million will also be delivered in 2Q FY2011, which will propel Eratat's 2Q performance further upwards.
"The completion of Eratat's recent placement of 60 million new shares at 20.2 cents has, in our opinion, provided the company with the working capital to grow in 3Q and 4Q 2011. Intrinsic value of 43 cents. MAINTAIN INCREASE EXPOSURE."
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