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27-11-2012, 10:26 PM
I am quite impressed by the latest FY12 (ended 30Sep12) full-year results.....
http://info.sgx.com/webcoranncatth.nsf/V...F00307DAD/$file/PNEIndustriesFY12Results.pdf?openelement
I think it is relevant to note that the marked 132% yoy increase in NP to $5.607m - giving a full-year EPS of $0.0167, based on the latest 335.667m issued shares - is after accounting for a 0.428m forex loss; otherwise, even higher NP and EPS numbers would have been recorded. It is also relevant to note that both sales/revenue and profits were markedly higher when compared with this 1H-FY12 and last 1H-FY11; this is indeed very encouraging and a positive indicator of likely further growth to come. It is also relevant to note that both the core Contract Manaufacturing and Trading divisions posted markedly higher profits. B/S as at 30Sep12 remained rock-solid and debt-free, together with a large cash reserve of $8.019m - equivalent to $0.024/share - and a substantial portion of working capital (trade receivables and inventories) funded by own capital funds.
A higher Final dividend of $0.004/share (last FY11: $0.003/share) declared and will be paid on 25Feb13.
Against the latest NAV/share of $0.202, PNE Industries' last done (as at 27Nov12) share price at $0.089 points to a grossly-underpriced situation.
More info on PNE Industries.....
http://www.pne.com.sg/industries/index.html
I find their printing plates manufacturing operation (as the main part of the Trading division) based in PRC most interesting.....
http://www.pneprint.com/index.php
http://info.sgx.com/webcoranncatth.nsf/V...F00307DAD/$file/PNEIndustriesFY12Results.pdf?openelement
I think it is relevant to note that the marked 132% yoy increase in NP to $5.607m - giving a full-year EPS of $0.0167, based on the latest 335.667m issued shares - is after accounting for a 0.428m forex loss; otherwise, even higher NP and EPS numbers would have been recorded. It is also relevant to note that both sales/revenue and profits were markedly higher when compared with this 1H-FY12 and last 1H-FY11; this is indeed very encouraging and a positive indicator of likely further growth to come. It is also relevant to note that both the core Contract Manaufacturing and Trading divisions posted markedly higher profits. B/S as at 30Sep12 remained rock-solid and debt-free, together with a large cash reserve of $8.019m - equivalent to $0.024/share - and a substantial portion of working capital (trade receivables and inventories) funded by own capital funds.
A higher Final dividend of $0.004/share (last FY11: $0.003/share) declared and will be paid on 25Feb13.
Against the latest NAV/share of $0.202, PNE Industries' last done (as at 27Nov12) share price at $0.089 points to a grossly-underpriced situation.
More info on PNE Industries.....
http://www.pne.com.sg/industries/index.html
I find their printing plates manufacturing operation (as the main part of the Trading division) based in PRC most interesting.....
http://www.pneprint.com/index.php