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TANG PALACE (01181.HK) 1H net profit up 91% to RMB28.64M
TANG PALACE (01181.HK) announced revenue for the first six months of 2014 increased 9.2% year-on-year to RMB 478 million. Net profit grew 90.7% to RMB28.64 million. EPS was 6.84 fen. No interim dividend was declared.
Group's 2013 revenue was RMB 902 million (up 9.4% vs 2012). Net profit for 2013 was RMB 36.8 million (down 33% vs 2012). EPS was 8.83 fen. Final dividend of HKD 6.6 cts was declared.
I noticed that there hasn't been much discussion on F&B stocks so I'm highlighting this China F&B restaurant group listed in HK. The management is a HK team that started the the restaurant group in 1992. To date, the restaurant had 52 restaurants under its umbrella. It operates 26 restaurants that cater to the mid-high end market, 23 Pepper Lunch restaurants and 3 Pappa Rich restaurants. Their dividend pay out ratio is about 58%.
Forward EPS for FY 2014 is estimated to be about HKD 16.5 cts, translating to a forward PE of 9.1x. However, the group is sitting on a cash pile of about RMB 267.5 million with little debt, representing a cash value of about HKD 80 cts per share. So PE ex cash is only 4.2x based on last transacted price of HKD 1.5.
TANG PALACE (01181.HK) announced revenue for the first six months of 2014 increased 9.2% year-on-year to RMB 478 million. Net profit grew 90.7% to RMB28.64 million. EPS was 6.84 fen. No interim dividend was declared.
Group's 2013 revenue was RMB 902 million (up 9.4% vs 2012). Net profit for 2013 was RMB 36.8 million (down 33% vs 2012). EPS was 8.83 fen. Final dividend of HKD 6.6 cts was declared.
I noticed that there hasn't been much discussion on F&B stocks so I'm highlighting this China F&B restaurant group listed in HK. The management is a HK team that started the the restaurant group in 1992. To date, the restaurant had 52 restaurants under its umbrella. It operates 26 restaurants that cater to the mid-high end market, 23 Pepper Lunch restaurants and 3 Pappa Rich restaurants. Their dividend pay out ratio is about 58%.
Forward EPS for FY 2014 is estimated to be about HKD 16.5 cts, translating to a forward PE of 9.1x. However, the group is sitting on a cash pile of about RMB 267.5 million with little debt, representing a cash value of about HKD 80 cts per share. So PE ex cash is only 4.2x based on last transacted price of HKD 1.5.