Icon8888 Gossips About Stocks

(Icon) Jaycorp (4) - Excellent Result

Publish date: Mon, 14 Dec 2015, 08:38 PM
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I follow the smell of money.


Today, Jaycorp released its October 2015 quarterly result (first quarter of FY2016). Result is excellent with net profit of RM5.5 mil. Based on 137 mil shares, EPS in latest quarter is 4 sen.


For details, please refer to table below, which is self explanatory :-



Key observations :-

(a) Furniture division's revenue reached all time high of RM62.9 mil. PBT came in at RM6.7 mil, 6.3% higher than previous quarter.

(b) Packaging division's PBT at RM0.6 mil is more or less same as previous quarter.

(c) Rubber wood division reported loss of RM0.8 mil due to weaker demand from China.

(d) Renewable division finally broke even.


Exceptional items totalled only RM0.8 mil (vs. RM4.6 mil in previous quarter), mostly due to derivative losses. Net profit of RM5.5 mil translates into EPS of 4 sen.


Based on annualised EPS of 16 sen and PER of 10 times, fair value should be RM1.60.


Simple and easy to understand, no rocket science.



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3 people like this. Showing 8 of 8 comments


Aiya Icon...you are too fast leh...after I leak out your plans.
Should have waited till I accumulate tomorrow!

2015-12-14 20:52



Dec 14, 2015 07:05 PM | Report Abuse

better go Jaycorp...
before ICON decides to make an article on it tom.

2015-12-14 20:53


What happen to the cash and borrowing
The former reduce but the later increased?
May be they just borrow more money to boost the eps which is not a good sign?
ROE of the company is still far from it generic competitor

2015-12-14 22:06


If borrow money can boost eps. I will borrow. Hahaha. Just like u use margin to earn more in stock market. Nothing wrong what. This company dividend kaokao. If eps really 16cents. Dividend yield with current price, I can't imagine hahaha

2015-12-14 22:41


This company can maintain its dividend payout I guess, because it has enough fcf.

2015-12-14 22:42


I thought cash went up from 23 mil to 29.8 mil ?

As for borrowings, I thought total amount more or less the same at RM26 mil (Oct and July quarters) ?

Don't be overzealous about the "borrow to grow earnings" conspiracy theory

Keep things simple, don't make it complicated with all the ROE, ROIC, etc (unless it is extreme cases whereby the figures are crappy)

2015-12-14 23:26


Eps 4sen with exceptional items loss of 0.8mil. This figure will not come back in next quarter. Nice call!

2015-12-15 08:28


Icon bro, could u tell me when Jaycorp will be stop bleeding from the loss of dervative? DengQ

2016-01-25 17:44

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