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FibreChem’s Nine-Month Net Profit Up 1.9% to HK$405.9 million (03 Nov 08)

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  • Revenue: +0.6% (3Q08), +12.2% (9M08)
  • Net Profit: -18.5% (3Q08), +1.9% (9M08)
  • Press Release: Revenue for 9 months ended 30 September 2008 (“9M08”) grew 12.1% year-on-year to HK$1.5 billion.
  • Gross profit margin for 9M08 stood at 36.4% year-on-year led by pressure on the average selling prices for fibre products and elevated cost of sales.
  • Company began market testing of its new bi-component long fibre products.
  • Outlook: The Group is also actively developing the uniform microfibre leather business and utilisation rate of existing leather facilities is expected to improve in the fourth quarter of 2008.
  • Barring unforeseen circumstances, the Group expects to see continued growth in 2008.
FINANCIAL RECORDS

Revenue (HKD '000)

FY 1Q 2Q 3Q 4Q Total
2008 491,239 505,770 482,576
2007 378,316 459,583 479,878 499,731 1,815,599
2006 244,710 250,265 367,698 400,586 1,263,259
2005 179,383 219,136 201,781 229,686 829,986
2004 101,603 107,604 133,159 133,326 475,692
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Earnings (HKD '000)

FY 1Q 2Q 3Q 4Q Total
2008 133,973 151,368 120,574
2007 106,165 144,302 148,003 140,082 538,552
2006 65,991 59,764 101,871 104,396 332,022
2005 42,586 53,644 37,892 62,766 196,890
2004 24,591 24,707 26,688 25,183 101,169
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Dividends

FY Interim Final Special (HKD)
2008 0.01
2007 0.01 0.08 NA
2006 0.02 0.15 NA
2005 0.015 0.085 NA
2004 0.012 0.039 NA
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Bonus Issue / Stock Split

Date Type Details
2007-09-04 Rights 1NCPS FOR 4 SH OFFER OF 1 FOR 4 @ $0.5
2007-06-11 Bonus OFFER OF 1 FOR 1
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Share Data (HKD)

NAV = $3.10
EPS = $0.44 (9M FY08)
Diluted EPS = $0.39 (9M FY08)
No of Shares = 915,248,888
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
DBS Hold $0.28 05 Nov 08
CIMB Outperform $0.96 04 Nov 08



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