Stock Name: Sapphire Corp
Company Name: SAPPHIRE CORPORATION LIMITED
SIAS Research in an Aug 22 research report says: "Gross profit reached $8.3 million in 2Q FY2011 (up 23% q-o-q, 45.5% y-o-y).
"Sapphire's 2Q 2011 results showed several positives (a) operating profit grew by 28.1% q-o-q and 57.8% y-o-y to reach $5.1 million in 2Q, (b) its hedge to ring-fence its exposure to China VTM shares turned profitable, (c) its mineral trading segment resumed revenue contribution, which will continue into 3Q on the back of new orders and (d) it re-collected $24.6 million of loan receivables and advances, raising cash to $37.2 million.
"These developments justify our valuation of 60 cents per share on Sapphire. MAINTAIN INCREASE EXPOSURE."
Company Name: SAPPHIRE CORPORATION LIMITED
| Research House: SIAS | Price Call: BUY | Target Price: 0.60 |
SIAS Research in an Aug 22 research report says: "Gross profit reached $8.3 million in 2Q FY2011 (up 23% q-o-q, 45.5% y-o-y).
"Sapphire's 2Q 2011 results showed several positives (a) operating profit grew by 28.1% q-o-q and 57.8% y-o-y to reach $5.1 million in 2Q, (b) its hedge to ring-fence its exposure to China VTM shares turned profitable, (c) its mineral trading segment resumed revenue contribution, which will continue into 3Q on the back of new orders and (d) it re-collected $24.6 million of loan receivables and advances, raising cash to $37.2 million.
"These developments justify our valuation of 60 cents per share on Sapphire. MAINTAIN INCREASE EXPOSURE."
No comments:
Post a Comment