i did not dare to add cause johotin leakage of information happened last few Q , insider buy first or sell first before the result is annouced . might be insider dumping as they knew the result already.
If Q result not reach 4 cent,Director Lim Hun Swee is the sole winner,i wonder the reason why Edward Goh & other director to buy from Lim Hun Swee? is it because too cheap or under value?
For the tin manufacturing segment, revenue increased by RM3.73 million from RM29.66 million to RM33.39 million mainly due to higher sales in the printing of tinplates services. Profit before tax decreased by RM1.69 million from RM3.19 million in the preceding year corresponding quarter to RM1.50 million. This is mainly due to relocation costs incurred by one of the subsidiary, Kluang Tin & Can Factory Sdn Bhd (“KTCF”). KTCF is relocating to the Seelong factory joining other subsidiaries, namely Johore Tin Factory Sdn Bhd and Unican Industries Sdn Bhd as part of a streamlining exercise to reduce operational costs in the long run.
Despite relocating factory but revenue still can increase. The following quarter turnover and profit shall be higher than this Q once relocation is completed.
Management in right track and a team that looking beyond cost cutting measurement is how they can made a company sustain in long term. Definitely back to 1.5 after raya
Tin Manufacturing segment is becoming increasingly competitive, though the softer tinplate price is likely to provide margin stability in the near-term. F&B sales volume are projected to be strong driven by domestic capacity expansion and strategic JV in Mexico. While current high skimmed milk powder price may eventually sip into JTB’s input costs and normalise its margins, we opine management would proactively manage its procurements and price negotiations.
Valuation
Reiterate Buy on JTB with a higher TP of RM1.80/share (previously: RM1.57/share) as we roll forward the valuation to CY20. We value the F&B and tin manufacturing segments at 15x and 8x CY20 EPS, respectively. We reduced the ascribed F&B valuation by 1x PER to account for the current soft market sentiment on the F&B industry due to fluctuation in raw materials price.
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....
ksongking15
1 posts
Posted by ksongking15 > 2019-05-15 17:31 | Report Abuse
Yesterday bought at 1.30