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[转贴] [POWER ROOT BERHAD,疲弱的消费情绪和激烈竞争] - James的股票投资James Share Investing

James Ng
Publish date: Tue, 27 Mar 2018, 03:53 PM

[POWER ROOT BERHAD,疲弱的消费情绪和激烈竞争]

力之源在9MFY18,全面收益跌到RM1800万,比起去年RM3800万,YoY-52%。这是因为(1)在佳节促销期不利的销售组合,(2)在3QFY17红利供应的翻转,和(3)这一季外汇亏损RM180万。此外,原料成本涨到RM1.7亿,比起去年RM1.4亿,YoY+23%;其他花费涨到RM1.1亿,比起去年RM1亿,YoY+8%;员工成本涨到RM3700万,比起去年RM2900万,YoY+28%。外国营收是RM1.74亿,比起大马营收是RM1.7亿,外国营收占了总营收的50.7%。

QoQ,这一季营收是RM1.15亿,比起上一季RM1.20亿跌了RM460万或3.8%。这是因为销售量跌了。这一季的股息是RM0.025,过去4季的股息是RM0.13。股价是RM1.40,股息率是9.3%。库存增到RM5300万,比起去年RM4900万,YoY+8%。

前景:
在大马,由于疲弱的消费情绪和激烈竞争,整个大环境还是充满挑战的。

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James Ng

For 9MFY18, 'Total comprehensive income' dropped to RM18m, compared to last year RM38m, YoY-52%. This was due to (1) adverse sales mix for the festival sales promotion events, (2) reversal of bonus provision in 3QFY17 and (3) loss on foreign exchange of RM1.8m in the current quarter. Additionally, 'Raw material used' increased to RM170m, compared to last year RM138m, YoY+23%; 'Other operating expenses' increased to RM113m, compared to last year RM104m, YoY+8%; 'Staff cost' increased to RM37m, compared to last year RM29m, YoY+28%. Oversea revenue was RM174m, compared to the Malaysia revenue of RM170m, oversea revenue made up 50.7% of total revenue.

QoQ, the current quarter revenue was RM115.1m, represented a decrease of RM4.6m or 3.8% when compared to the preceding quarter of RM119.7m. This was mainly due to the decrease in both local and overseas sales. Dividend for this quarter is RM0.025, trailing 4 quarters dividends total was RM0.13. With a share price of RM1.40, dividend yield is 9.3%. Inventories increased to RM53m, compared to last year RM49m, YoY+8%.

Prospects:
The operating environment remains challenging in Malaysia due to the weak consumer sentiment and the intensity in competition.

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James Ng

 

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