Wall Street KLCI

FIBON FY13 earnings grow 9% to RM4.9m

Wall Street KLCI
Publish date: Tue, 30 Jul 2013, 04:03 PM
Wall Street KLCI
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THIS BLOG IS RELATED TO OBSERVATIONS REGARDING STOCKS TRADED IN MALAYSIA. DISCLAIMER: THE COMPANY ANALYSIS THAT APPEAR IN THIS BLOG IS MERELY FACTS GATHERED FROM DIFFERENT SOURCES AND THE AUTHOR'S PERSONAL VIEW. IT IS NOT A BUY OR SELL RECOMMENDATION. THE AUTHOR DO NOT GUARANTEE THE ACCURACY OF THE FACTS BEING PRESENTED. PLEASE CONSULT YOUR INVESTMENT ADVISORS BEFORE ACTING ON ANY INFORMATION PROVIDED BY THE ANALYSIS ABOVE.
Following Message

1. FY13 EPS up 9% to 5.00 sen. FIBON reported FY13 EPS of 5.00 sen (+9% YoY against 4.59 sen last year). However, its 4Q13 EPS declined 7% YoY to 1.04 sen due to higher admin expenses.
2. Background. FIBON is a technology Company. It is engaged in the formulation, manufacturing and sales of polymer matrix fiber composite materials and products for the Electrical, Electronic, Petrochemical and Automotive industries.
3. Dividend of 1.25 sen was announced. This will still need approval in the next AGM but usually it will go through. At current share price of 33 sen, this translates into dividend yield of 3.8%.
4.Low volume, boring stock. Today volume is still small (~65k) although the earnings and dividend was announced yesterday. Hence, this is a boring stock in which share price does not move much.
5. Strong balance sheet. This Company has no borrowing at all. And its net cash is RM20.0m or 20.0 sen per share. Basically, this means about 65% of its share price is backed by cash. From corporate finance angle, FIBON does not use its cash into good use hence its depressed share price so far.
6. Theoritical value of RM0.32 per share. Simply by using its latest book value of RM0.32 per share.

SUMMARY OF KEY FINANCIAL INFORMATION
31/05/2013

INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
31/05/2013
31/05/2012
31/05/2013
31/05/2012
$$'000
$$'000
$$'000
$$'000
1Revenue
3,352
3,598
16,674
16,901
2Profit/(loss) before tax
1,228
1,550
6,566
6,226
3Profit/(loss) for the period
1,019
1,102
4,901
4,499
4Profit/(loss) attributable to ordinary equity holders of the parent
1,019
1,102
4,901
4,499
5Basic earnings/(loss) per share (Subunit)
1.04
1.12
5.00
4.59
6Proposed/Declared dividend per share (Subunit)
1.25
0.00
1.25
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7Net assets per share attributable to ordinary equity holders of the parent ($$)
0.3200
0.2900
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