Stock Name: Goodpack
Company Name: GOODPACK LIMITED
DBS Vickers Securities in an Aug 29 research report says: "Goodpack reported FY2011 PATMI of $43.2 million which was ahead of consensus and our expectations of $42 million. 4QFY11 net profit stood at $11.8 million (+57% y-o-y, +11% q-o-q).
"Final dividend per share of $0.02 and $0.01 special dividend declared. The strong FY2011 result was driven by rise in revenues to $158.8 million (+29% y-o-y) on the back of gains in natural (NR) and synthetic rubber (SR) where market share now stands at 38% and 27% respectively.
"FY2012-2014F EPS increased by 2-4% on higher IBC (Intermediate Bulk Container) fleet and lower tax. EBITDA margins fell to 44.8% from 46.6% in FY2010 due primarily to higher leasing costs. Post earnings revisions, we raise target price to $1.69 from $1.52. UPGRADE TO HOLD."
Company Name: GOODPACK LIMITED
| Research House: DBS Vickers | Price Call: HOLD | Target Price: 1.69 |
DBS Vickers Securities in an Aug 29 research report says: "Goodpack reported FY2011 PATMI of $43.2 million which was ahead of consensus and our expectations of $42 million. 4QFY11 net profit stood at $11.8 million (+57% y-o-y, +11% q-o-q).
"Final dividend per share of $0.02 and $0.01 special dividend declared. The strong FY2011 result was driven by rise in revenues to $158.8 million (+29% y-o-y) on the back of gains in natural (NR) and synthetic rubber (SR) where market share now stands at 38% and 27% respectively.
"FY2012-2014F EPS increased by 2-4% on higher IBC (Intermediate Bulk Container) fleet and lower tax. EBITDA margins fell to 44.8% from 46.6% in FY2010 due primarily to higher leasing costs. Post earnings revisions, we raise target price to $1.69 from $1.52. UPGRADE TO HOLD."
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