I m looking at corresponding Q , for Q2 FY 16 revenue was approx 1.5b n net income was app 145+ mil compared to current Q2 , revenue was 2+b but net income only 150+ mil . Current Q selling price should be very much higher than Q2 FY16 or even Q1 FY17 thus, revenue n net Inc should achieved a much better figure .
this qr's y-o-y performance has improved significantly both from revenues and PAT standpoint, if the previous qr's insurance claim received was excluded. Only the q-o-q is disappointing considering that revenues rose > 31% but PAT only rose 5.9%; this means that operating expenses for this qr has increased quite significantly over those of the previous qr. Perhaps someone can shed some light on this. The "other operating expenses" for this qr of rm103 million is of concern and it is a pity that the announcement did not provide further details on this.
In Q2 last year, Press Metal’s bottom-line was inflated by the receipt of the final insurance compensation payment of RM45.02mil from MSIG Insurance (M) Bhd in relation to a May 17, 2015 fire at its smelting plant in Samalaju Industrial Park, Bintulu, Sarawak. (The total insurance claim recovered amounting to RM115.02mil was paid out in phases.)
With the insurance claim included, Press Metal’s pre-tax profit still showed a growth - 5.1% - while earnings inched up 2.8% to RM150.17mil.
For this realised forex losses were at rm18.8+ million, while the realised loss on derivatives amounted to rm112.45 million before netting off an unrealised gain on forex of rm8.733 million. Question is why such hefty forex losses? Was this from the hedging or what? Please refer to page16 of the notes.
Press Metal, the largest integrated aluminium producer in Southeast Asia, declared an interim dividend of 1.5 sen per share to be paid on Sept 20. The ex-date is Aug 30.
Years back , i still remembered some bad stories created by one of the expert in account ( Mat Salleh ) by using mathematics calculation to focus on Pmetal's future earnings . Luckily i did not blindly listened to him . I will only listen to the CEO's message ( Dato Paul Koon ) and now he is so pleased with the record profit in the first half 2017 the company already achieved . The more you listen to others the more emotional you will get and lastly you will be the loser . Only believe Pmetal because Pmetal boleh dan tetap boleh .
When you afraid to buy when opportunity arrived you also consider to be a loser . Buy and keep it for another quarter as you know Alu. price already reached 2104 at record high . Believe in Pmetal because Pmetal always boleh dan tetap boleh .
Press Metal earnings soar on higher output and price: Press Metal Aluminium Holdings Bhd’s pre-tax profit rose by more than a third to RM209.37mil in the second quarter on increased output and higher metal prices. Revenue jumped 31.1% to RM2.08bil. - StarBiz
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....
nicky
3,356 posts
Posted by nicky > 2017-08-16 18:54 | Report Abuse
Oops....don tell me gonna b red tomorrow