CCK CONSOLIDATED HOLDINGS BHD
KLSE (MYR): CCK (7035)
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Last Price
0.70
Today's Change
-0.005 (0.71%)
Day's Change
0.69 - 0.71
Trading Volume
620,800
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3 people like this. Showing 50 of 3,491 comments
The Domestic Trade and Consumer Affairs Ministry has issued compound notices totalling RM534,200 to 2,205 producers, wholesalers and retailers of chicken and eggs from Feb 2 until Monday (Nov 28)
2022-11-29 15:59
The ministry's chief secretary Datuk Azman Mohd Yusof said the compounds were issued through 2,205 enforcement actions against profiteering in subsidised price-controlled products throughout the period
2022-11-29 15:59
CCK Consolidated Holdings
3Q22: Robust results from retail and poultry
■ 9M22 core net profit of RM36m (+102.6% yoy) was above expectations, due
to better-than-expected results from its retail and poultry segments in 3Q22.
■ We expect CCK to record slightly weaker qoq results in 4Q22F, due to higher
input costs (weak ringgit) and seasonally slower sales.
■ Reiterate Add, with a higher TP of RM1.03 (12x CY24F P/E).
9M22 core net profit rose 102.6% yoy, beating expectations
3Q22 core net profit came in at RM13m (+106.3% yoy), after accounting for one-off gains
of RM13.4m (gain on disposal of investment properties of RM6m and estimated RM7.5m
in subsidies from the government in relation to the price ceilings on chicken and eggs).
This brought 9M22 core net profit to RM36m (102.6% yoy); above expectations at 83.8%
of our and 86.5% of Bloomberg consensus full-year estimates. The earnings beat in 3Q22
was due to stronger-than-expected contribution from its retail and poultry divisions. We had
expected weaker sales volume from both segments due to surge in feed cost prices.
3QFY22: Stronger qoq performance across all divisions
On a qoq basis, 3Q22 revenue and core net profit rose 12.2% and 10.8% respectively.
Retail segment’s 3Q22 EBIT rose 87.4% qoq to RM27m, owing to: i) better overall cost
control and ii) margin enhancements from selling price hikes. Poultry segment’s 3Q22 EBIT
rose to RM7.3m, lifted by the government subsidy of RM7.5m. Excluding this, the segment
would have posted a 3Q22 EBIT of -RM0.2m, still narrower than the -RM0.8m in 2Q22,
thanks to higher selling prices. Prawn segment’s 3Q22 EBIT expanded to RM2.1m (>100%
qoq) owing to the maiden contribution from PT Bonzana, an Indonesia prawn processing
plant whose acquisition it completed in 3Q22. Food service segment’s 3Q22 EBIT rose
58.7% qoq, thanks to higher demand from schools (increase in student activities).
Expecting a slightly weaker 4Q22F qoq
We expect CCK to record a slightly weaker core net profit qoq in 4Q22F, premised on: i)
weaker sales owing to lower consumer affordability (reduced spending power amid
inflationary pressures), ii) higher input costs from a weaker ringgit, and iii) seasonally
weaker performance from its food services unit (lower demand from school due to festive
and year-end school holidays) and prawn segment (weaker demand due to seasonality
factors). Nevertheless, we project CCK to post net profit growth of 6.6%/5.7% in
FY23F/24F, to be mainly driven by its retail (more store openings), poultry (lower feed cost
prices) and prawn (full contribution from PT Bozana) segments.
Maintain Add, with higher TP of RM1.03 (12x CY24F P/E)
In tandem with the 3Q22 results beat, we raise our FY22-24F EPS to account for higher
contribution from its retail and poultry segments. Accordingly, our TP rises to RM1.03 (12x
CY24F P/E, its current 5-year mean), and we keep our Add call. Besides its attractive
valuation (7.7x CY23F P/E, a 35.8% discount to its 5-year mean), we like CCK for: i) the
defensive nature of its retail business, ii) its captive market in East Malaysia, and iii) the
inelastic demand for poultry goods in Malaysia.
2022-12-01 11:49
Tong's Portfolio - CCK
We also acquired shares in relatively attractively value consumer stock, CCK Consolidated Holdings Bhd. The company operates a fully integrated poultry business - from feed mill to breeder farms, hatchery, broiler and layer farms, and abattoir - primarily in the state of Sarawak. The downstream distribution network includes retail stores, supermarkets as well as retail outlets across Sarawak, Sabah and Indonesia (Jakarta and Pontianak). Fresh dressed chicken and chicken parts make up of about 50% of its retail stores' products, where about 70% of its customers are F&B operators.
CCK's revenue grew 21%-26% y-o-y in 1QFY2022/2QFY2022, and 36% in the latest quarter, 3QFY2022, bolstered by the new store openings, contributions from new facilities related to frozen poultry products in Pontianak, as well as recovery in its school food services units. The company's latest venture, the diversification into prawn agriculture and processing - largely for exports, including Australia, Hong Kong, Japan, Dubai, Vietnam and Indonesia - also contributed to top-line growth. Its prawn factories are HACCP-certified and process both cook -and-feel and IQF prawns. Net profit margin recovered to between 5.3% and 5.6% in the last two quarters, as the hotel/restaurant/cafe' businesses rebounded with the easing of lockdown measures. Its trailing PER is only 10 times while dividend yield is around 1.8%.
Source ; The Edge Malaysia December 5, 2022
2022-12-03 17:51
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
2022-12-23 09:43
Waran paling buruk yg pernah ada di bursa Malaysia,ini bos tak tahu malu ka.Cuba tengok dan belajar dari notion waran terbang walau expired april tahun depan
2022-12-23 10:08
Slowly this counter going up......the main focus looks like chicken/eggs/poultry but actually they have other strong subsidiaries as well
In term of warrants....the exercise price is too huge? Expiry is another 5 months
Need to wait this motherland going near rm1 then maybe it will also follow suits....
2023-01-13 12:44
PARIS: The World Health Organization (WHO) said today that increasing reports of the H5N1 avian flu among humans were “worrying” following the death of an infected 11-year-old Cambodian girl.
2023-02-25 13:56
Does UN's several organisations matter?
They have been barking like street dogs.
Nothing heeded except for pandemic.
But why pandemic is the million dollar question.
Because it is related to health and human live and what does that mean?
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So the two year lockdown curtailing all activities except of those who are connected.
2023-02-25 15:03
PETALING JAYA: Subsidi bagi telur dan ayam akan diteruskan sehingga Jun ini dengan melibatkan kos sebanyak RM1.28 bilion, kata Kementerian Pertanian dan Keterjaminan Makanan (KPKM).
2023-02-27 22:14
One of the strongest food chain in east malaysia... Actually prawn margin good compate to chicken
2 months ago
The government is likely to announce ceiling prices for chicken and egg supplies ahead of the Eid al-Fitr celebration tomorrow while it awaits discussions between the two ministries on Wednesday.
2 months ago
Seems Indonesian purchase will contribute to its profits. Strong foothold in Sabah and S wak. Hope will do well in coming days.
1 month ago
Warrant is dead if you don't convert it by mid June.
No point converting because exercise price is 90 sen
My warrants become toilet paper.
4 weeks ago
5/30 WA's last trading day
6/1 Dividend Ex date.
Price will go higher after June 1.
2 weeks ago
[转贴] [Video:浅谈CCK CONSOLIDATED HOLDINGS BERHAD, CCK, 7035] - James的股票投资James Share Investing
https://klse.i3investor.com/web/blog/detail/general/2023-05-31-story-h-269509126
2 days ago
Good stock. But will be very boring holding it. So it is depended on peronal risk preference
1 day ago
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CS Tan
4.9 / 5.0
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....
CK Jeff
will increase soon...
2022-11-10 11:25