Stock Name: Foreland
Company Name: FORELAND FABRICTECH HLDS LTD
Phillip Securities Research in an Aug 15 research report says: "Revenue was RMB203.3 million (+203.4% y-o-y, +32.4% q-o-q), net profit was RMB38.8 million (+1112.5% y-o-y, +37.1% q-o-q). Revenue and net profit are 38.5% and 41.6% above our estimates.
"This is a record quarter for Foreland in terms of revenue, net profit and sales volume. The outstanding performance is attributed to strong demand for high quality functional fabric. The company has declared an interim dividend of RMB0.027, which is approximately 20% of 1H11 net profit. The company aims to maintain a 20% dividend payout ratio.
"Although market aversion has increased lately, we are keeping our PE peg of 4.35x FY11E earnings and target price of 19.1 cents. We believe Foreland can achieve a record year of profitability. The stock is currently trading at only 2.5x forward earnings. MAINTAIN BUY."
Company Name: FORELAND FABRICTECH HLDS LTD
| Research House: Phillip Securities | Price Call: BUY | Target Price: 0.191 |
Phillip Securities Research in an Aug 15 research report says: "Revenue was RMB203.3 million (+203.4% y-o-y, +32.4% q-o-q), net profit was RMB38.8 million (+1112.5% y-o-y, +37.1% q-o-q). Revenue and net profit are 38.5% and 41.6% above our estimates.
"This is a record quarter for Foreland in terms of revenue, net profit and sales volume. The outstanding performance is attributed to strong demand for high quality functional fabric. The company has declared an interim dividend of RMB0.027, which is approximately 20% of 1H11 net profit. The company aims to maintain a 20% dividend payout ratio.
"Although market aversion has increased lately, we are keeping our PE peg of 4.35x FY11E earnings and target price of 19.1 cents. We believe Foreland can achieve a record year of profitability. The stock is currently trading at only 2.5x forward earnings. MAINTAIN BUY."
No comments:
Post a Comment