Since I bought this company share early this year till today I never sell a single stock of this company...most of the people bought it earlier knew that this is most undervalue stock in bursa...don't be surprise if it goes up 10+
@superstrong, if you dont like the share just go away, hanging around here just waste your time. You doesn't earn anything with talking bad on the share you dont like, unless with badmouthing on this share you gain interest? Doubt your intention.
Similarly, Earnings before interest, taxes, depreciation and amortization grew by 48% to P= 11.73 billion owing to better operating income.
Earnings per share stood higher at P= 0.43 vis-à-vis P= 0.17 in previous year, while return on sales increased from 3.6% to 5.2%.
The exceptional performance during the first quarter of 2017 versus 2016 is driven by the following:
Consolidated Sales volume reached 26.2 million barrels (MMB) from previous year’s 25.3 MMB. In the Philippines, growth was exhibited in the following trades: Export sales by 18%, Retail by 6%, LPG business by 5%, and Lubes by 16% though partly tempered by the decreases in Supply and Industrial sales. On a per product basis, higher gasoline, petrochemicals and kero/jet sales were partly offset by lower diesel. Meanwhile, for its Malaysian operations, the incremental volume emanated from Industrial and Retail sales by 14% and 3%, respectively, mainly driven by gasoline and kero/jet sales.
Net sales surged by 38% or P= 29.56 billion to P= 106.41 billion due to the increase in average selling prices as regional market prices of finished products rose along with the upward movement in global crude oil prices. During the period, benchmark crude Dubai averaged US$53/bbl, 75% higher than the US$30/bbl in 1Q 2016. This was further boosted by the P= 2.73 average depreciation of Philippine peso versus the US dollar. Higher volume sold also contributed to the increase in revenues.
Likewise, Cost of Goods Sold (CGS) went up by 39% to P= 94.49 billion from last year’s P= 67.92 billion due to the more expensive crude and imported products coupled by the cost of incremental volume sold. Gross margin improved on account of the reversal of the net inventory losses last year to net gains in 1Q 2017, improved refining cost efficiencies as well as higher margins from export sales of petrochemicals.
Selling and Administrative Expenses (OPEX) decreased slightly from P= 3.18 billion in 1Q 2016 to P= 3.07 billion due to lower advertising expenses partly offset by higher LPG cylinder purchases and rental expenses.
Net Financing Costs and Other Charges dropped by P= 0.53 billion to P= 1.74 billion from P= 2.27 billion last year as the Company reported a marked-to-market gain on its outstanding commodity hedge positions and a net forex/hedging gains during the 1Q 2017, compared to losses in 1Q 2016, tempered by higher financing cost from increased borrowing level and rate.
Income tax expense amounted to P= 1.56 billion from P= 0.73 billion in the same period last year due to higher pre-tax income.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
wltan22
208 posts
Posted by wltan22 > 2017-05-12 13:14 | Report Abuse
Since I bought this company share early this year till today I never sell a single stock of this company...most of the people bought it earlier knew that this is most undervalue stock in bursa...don't be surprise if it goes up 10+