Stock Name: Adampak
Company Name: ADAMPAK LIMITED
DMG & Partners Research in a Mar 7 research report says: "Adampak posted its 4Q11 results with a net loss of US$0.2 million which is in line with our estimates. Taking away the one-off impairment charges, full year core PATMI fell 30.0% y-o-y to US$6.5 million mainly attributable to the reduction in sales as a result of the Thai flood disruption.
"Full year dividends of 2.0 cents is also in line with expectation. Moving on, we expect the group to restore its production capability in Thailand by April, in time for its customer’s recovery. Subsequently, we expect the group’s second half performance to be strong and the full year dividend to recover back to 3.0 cents.
"Unchanged target price of 36 cents based on our Discount Dividend Model. MAINTAIN BUY."
Company Name: ADAMPAK LIMITED
| Research House: DMG | Price Call: BUY | Target Price: 0.36 |
DMG & Partners Research in a Mar 7 research report says: "Adampak posted its 4Q11 results with a net loss of US$0.2 million which is in line with our estimates. Taking away the one-off impairment charges, full year core PATMI fell 30.0% y-o-y to US$6.5 million mainly attributable to the reduction in sales as a result of the Thai flood disruption.
"Full year dividends of 2.0 cents is also in line with expectation. Moving on, we expect the group to restore its production capability in Thailand by April, in time for its customer’s recovery. Subsequently, we expect the group’s second half performance to be strong and the full year dividend to recover back to 3.0 cents.
"Unchanged target price of 36 cents based on our Discount Dividend Model. MAINTAIN BUY."
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