Just to share some numbers.
Thank you Dydx for highlighting the stock.
key points.
1) HDB building boom continues
2) Carrier lastest quarter revenue remain stable (Although carrier results are merged with 2 other units from 2010 onwards)
3) special dividend of 7 cents in 2007, hope they repeat that stunt.
4) Taking mean revenue, margin over the years to derive EPS, still a decent 3.7 cents, should have no problem sustaining dividends
In all, outlook clear and business stable, solid finances, happy to own the business. btw, dydx, according to their website, they are into bathroom prefabriation too, but that segment is never mentioned in AR, guess its either too small or new, but with the productivity drive going on in the construction sector, it might be value added bonus?
hi all, noted the above points. but i saw that the share price is on a downward trend and tgere was a sell down up to 33.5c yesterday leading to a high volume of more than 1million shares traded. wonder why?
(15-03-2013, 08:37 AM)paullow Wrote: [ -> ]hi all, noted the above points. but i saw that the share price is on a downward trend and tgere was a sell down up to 33.5c yesterday leading to a high volume of more than 1million shares traded. wonder why?
not sure ... But it finally gave me a chance to initial position successfully
Hi Greenrookie,
Thanks for sharing your work.
Based on your average NP 9.03mil
Using EV / Average NP
35.8 / 9.03 = 3.96times.
Trading at lower of its 3 years EV/Average NP as well.
(15-03-2013, 12:04 AM)Greenrookie Wrote: [ -> ]Just to share some numbers.
Thank you Dydx for highlighting the stock.
key points.
1) HDB building boom continues
2) Carrier lastest quarter revenue remain stable (Although carrier results are merged with 2 other units from 2010 onwards)
3) special dividend of 7 cents in 2007, hope they repeat that stunt.
4) Taking mean revenue, margin over the years to derive EPS, still a decent 3.7 cents, should have no problem sustaining dividends
In all, outlook clear and business stable, solid finances, happy to own the business. btw, dydx, according to their website, they are into bathroom prefabriation too, but that segment is never mentioned in AR, guess its either too small or new, but with the productivity drive going on in the construction sector, it might be value added bonus?
Note that this was 'recycled' back to the Company via a rights issue. I think it was common for companies in that year to recycle the tax credit via special dividend + rights issue.
1H results look dismal on the first look, but managed to calm myself down after breaking down its quarter to quarter results
2012Q1 2012Q2 2012Q3 2012Q4 2013 Q1 2013 Q2
Rev 50992 42377 31269 30483 37146 42212
GP 8700 10445 7636 8166 7330 7749
NP 3445 4228 2134 3580 2519 2787
GP margin 0.17 0.24 0.24 0.26 0.19 0.183573391
NP margin 0.067 0.099 0.068 0.117 0.067 0.066023879
Inventory 32661 28750 30070 35209 34169 36135
Receivables 39329 34920 22754 24606 30150 31935
While I wish results could be better, there does not seem to be any red flag in terms of accerated slow down of actvities.
I also observe that they made a 6 million investment in bonds. NOt sure if there is what they are trying to do with their cash hoard...Given that their NP margin is only around 6-7 % on av... doesn't seem like a bad idea to me...
any comments anyone???
Hi GR
The earnings are still intact and slightly above the average NP 9.03mil for FY.
The bond investment would mean NL has excess cash on hand. Just hoping they continue the 2 cent dividend.
This stock is like a bond. sigh
why the sigh? last year was good so this is a moderation. they are suffering from a lower demand in europe. i think they have some cash but doesn't earn much really. the earnings yield was really good last year so somewhat of a moderation we should expect. can't always be that good isnt it.
Hi bro
Sigh not because of the earnings. The earnings are in line within my expectation.
Just looking for some sort of excitement in life and NL is not bringing it to me.
Its my own problem, not about this stock.
I like NL as a company for their stable HDB business.