15-01-2014, 01:53 PM
FY13 (ended 30Sep13) AR makes interesting reading.....
http://infopub.sgx.com/FileOpen/Nam%20Le...leID=20065 [FY13 AR]
and Nam Lee is extending the existing share buy-back mandate by another year.....
http://infopub.sgx.com/FileOpen/Nam%20Le...leID=20064 [Circular to Shareholders]
From reading the AR, it is quite clear that the lower reported NP in FY13 was mainly attributed to cost overrun in a major one-off project already completed (possibly Jems?). The stronger sales in 4Q and the higher year-end inventories and trade debtors balances do give confidence of better sales and cash collections to come in the next few quarters. Latest B/S as at 30Sep13 remained rock-solid and very liquid.
I now look forward to the total $0.015/share Final & Special dividends, which should be paid by end-Feb14.
http://infopub.sgx.com/FileOpen/Nam%20Le...leID=20065 [FY13 AR]
and Nam Lee is extending the existing share buy-back mandate by another year.....
http://infopub.sgx.com/FileOpen/Nam%20Le...leID=20064 [Circular to Shareholders]
From reading the AR, it is quite clear that the lower reported NP in FY13 was mainly attributed to cost overrun in a major one-off project already completed (possibly Jems?). The stronger sales in 4Q and the higher year-end inventories and trade debtors balances do give confidence of better sales and cash collections to come in the next few quarters. Latest B/S as at 30Sep13 remained rock-solid and very liquid.
I now look forward to the total $0.015/share Final & Special dividends, which should be paid by end-Feb14.