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Delfi (formerly: Petra Foods)
02-08-2018, 08:31 PM.
Post: #11
RE: Delfi (formerly: Petra Foods)
Financial Results for the Quarter and Half-Year Ended 20 June 2018

Highlights :
1. Revenue of US$109.1 million for 2Q 2018, higher Y-o-Y by 8.5%
2. For 1H 2018, revenue was US$216.4 million, higher Y-o-Y by 11.7%
3. Gross Profit Margin of 34.5% for 1H 2018
4. Group ROE of 12.4% for 1H 2018
5. Earnings per share (excluding exceptional/non-recurring items) in 1H 2018 was 2.16 US cents as compared to 1.73 US cents in 1H 2017
6. Cash and cash equivalents stood at US$53.8 million as at 30 June 2018
7. Net asset value per share as at 30 June 2018 was 33.6 US cents compared to 33.7 US cents as at 31 December 2017
8. Growing chocolate confectionery markets in Indonesia and the Philippines
9. Higher Own Brands sales and Gross Profit margins are the key drivers of growth
10. Declared interim dividend of 1.08 US cents per ordinary share

More details in :
1. http://infopub.sgx.com/FileOpen/1H%20201...eID=518895
2. http://infopub.sgx.com/FileOpen/1H%20201...eID=518896
3. http://infopub.sgx.com/FileOpen/1H%20201...eID=518897

Delfi today closed at $S1.160 (-0.040).
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Specuvestor: Asset - Business - Structure.

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22-07-2019, 08:02 PM.
Post: #12
RE: Delfi (formerly: Petra Foods)
Delfi's brand of chocolates has been in Indonesia for many decades.

Its range of products are in the lower-price range, probably positioned as an entry-level chocolate for low-income consumers.

If you have tasted Tops, Silver Queen, and the various Delfi-branded chocolates (some of which are modeled to look like its competitors), you will find that they taste quite different/distinct from your usual from Mars, Nestle, and Hershey. Much of the reason, of course, can be found in the wide price disparity between these products.

The most expensive ingredient in a chocolate confection is usually cocoa butter, which gives the confection its unique 'chocolate taste and texture.' Since the Indonesian market cannot afford chocolate made with cocoa butter, another oil/fat substitute is used; the ubiquitous palm oil.

Some may think that different brands thrive in different markets, because consumers from different geographies have their tastes 'attuned' to whichever brand they were first exposed to. American chocolates were thought to be too sweet for the European palate. Can the case be made that the Indonesians and Filipinos will prefer Delfi chocolates, even if they are able to afford those from Mars, Nestle, and Hershey?

When Indonesian consumers can afford more expensive chocolates made with cocoa butter, I'm not so sure if they will still stick to Delfi. At least, I wont be betting on it. Delfi's current pricing -- which assumes a high level of future growth -- appears to be much too optimistic to me.

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14-01-2020, 07:15 PM. (This post was last modified: 14-01-2020, 07:17 PM by cyclone.)
Post: #13
RE: Delfi (formerly: Petra Foods)
Disclosure of becoming a Substantial Shareholder

Name of Substantial Shareholder/Unitholder: First Pacific Advisors, LP
Date of acquisition of or change in interest: 23-Dec-2019
Immediately before the transaction (Total): 5,800,000 (0.95%)
Immediately after the transaction (Total):  32,800,000 (5.37%)
Amount of consideration paid : SGD26,460,000 for 27,000,000 shares => SGD0.98 per share

More details in https://links.sgx.com/FileOpen/_2020-01-...eID=593239

Website : https://fpa.com/about-us

Delfi today closed unchanged at SGD 1.
=========== Signature ===========
Specuvestor: Asset - Business - Structure.

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