However, the profit after tax dropped from RM11.9million to RM4.8million. The lower profit after tax was mainly due to RM3.4million shares award and RM5.2million deferred taxation as mentioned in Note 12.
he profit after tax of RM4.8million was 41% lower than RM8.2million reported in 4QYE17. This was mainly due to RM3.4million SHARES were awarded to staff and directors as an appreciation to their effort and hard work contributed to the Group
===
one thing i don't like is enlarged share base because of ESOS stuff. But if comfort's margin is expanding, then i don't mind.
The problem is, summing all fundamental data and given current market condition, I can be more stingy in giving comfort a pass until it reaches an attractive valuation for entry.
The Company is a turnaround and growth stock, showing a YoY improved PAT by RM10m, and higher operating cash of RM18m, has proven its ability to stay competitive.
The one off cost - after taken in still a RM10m aka 40% improved PAT YoY: a) Staff incentive - if added back for Q4, the QoQ is flat b) Deferred tax Liab - Note 12 mentioned that the Company applied for tax allowance, and will reverse once the certificate is out {Meaning more PAT in coming quarters due to reversal)
Added both one off back, both QoQ and YoY shown an increase PAT of 58% and 70% respectively.
We should not just see the superficial QoQ results.
Not to forget Comfort has lowest PE among its peer.
Current year prospects Prospects for the rubber glove manufacturing sector remain strong with increasing demand arising from switching trends towards nitrile glove. Nitrile glove now accounts for 61% of Malaysian rubber glove export. As overall demand for nitrile gloves increases, the market is seeing increase segmentation and differentiation leading to an increase demand for specialty gloves. Through dedication to process rationalization and improving operational agility, the Group is confident in capturing greater market share and strengthening margins. The Group is confident that meeting customer expectations and continuous innovation will strengthen our position as the bespoke specialty glove manufacturer.
The sales revenue was comparable to previous quarter. The profit before tax, if without taken into consideration of RM3.4million shares award, it should have been RM13.6million, an increase of 14% instead of a decrease of 14%. However, the profit after tax dropped from RM11.9million to RM4.8million. The lower profit after tax was mainly due to RM3.4million shares award and RM5.2million deferred taxation as mentioned in Note 12.
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Posted by PASSIVESTOCK > 2018-03-28 19:45 | Report Abuse
淫淫淫 快射了