James的股票投资James Share Investing

[转贴] [INARI AMERTRON BERHAD,产品需求还在提高] - James的股票投资James Share Investing

James Ng
Publish date: Thu, 22 Mar 2018, 03:03 PM

[INARI AMERTRON BERHAD,产品需求还在提高]

这季度宣布RM0.025的股息,过去4个季度的总股息是RM0.098,股息率是3.3%。益纳利美昌在这季的营收是RM3.8亿,YoY+36.7%。这是因为产品的需求提高。YoY,税前盈利提高了21%(从RM6440万到RM7790万)和税后盈利提高了10.8%(从RM6240万到RM6910万)。

前景:
Gartner Inc在2018年1月29日预测2018年手机的货运量会增加2.6%(提高到19亿台)。智能手机(占手机市场87%)的销售会在2018年提高6.2%。益纳利美昌在RF,Opto-electronics & Fibre Optics,和IRIS scan的部门继续在产能和测试/组装的科技上加大投资,所以还是有看头。由于2016年6月在槟城,Plant 13B提高了产能和Plant 21安装了200000平方英尺的面积,所以有信心能满足需求。

FY18,益纳利美昌打算拨出RM1.2亿来买生产机器和扩大生产面积来满足需求。由于有好的成熟和新的服务/产品的混合供应,和全球经济成长,益纳利美昌保持谨慎乐观的态度来提高业绩。益纳利美昌会继续开发新厂和寻找成长的机会。益纳利美昌会降低成本和提高盈利率来抵消马币的增值。在2017年,益纳利美昌拿到了许多新的订单,和在竞争中保持成长;证明了他们的实力。

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James Ng

Declared devidend of RM0.025 in this quarter, dividend of trailing 4 quarters is RM0.098, dividend yield is 3.3%. The Group posted a revenue of RM375.9m for this quarter, YoY+36.7%. This was due to increase in demand of the Group's products. YoY, profit before tax increased by 21% to RM77.9m from RM64.4m and profit after tax increased by 10.8% to RM69.1m from RM62.4m.

Prospects:
Gartner Inc reported in their 29 January 2018 press release forecasts that mobile phone shipments will continue to grow 2.6% in 2018 (amouting to 1.9b units). Smartphone sales will grow 6.2% in 2018, to represent 87% of mobile phone sales. Their outlook in the RF, Opto-electronics & Fibre Optics and IRIS scan business units remain promising as their continue to invest in their production capacity and test/assembly technologies. With expansion capacity added and in place for Plant 13B and the installed 200000 square feet Plant 21 in June 2016 in Penang, they are confident that they will be able to meet demand.

For FY18, they plan to allocate around RM120m in expenditure for production equipment and to facilitise factory space to meet rising demand. With a good balance of mature and new service/products offerings, the Group remains cautiously optimistic to deliver positive performance consistent with global economic growth. The Group focuses on managing costs and margins to mitigate the impact of the fluctuations of currencies. The Group continues to work on new manufacturing projects in addition to look out for opportunities to enhance its growth. This is evidenced by the many deals they won in 2017 and their improving growth despite ever present competition.

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James Ng

 

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