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Hupsteel reports FY09 Results (27 Aug 09)
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Hupsteel
- Revenue: -52% (4Q09), -26% (FY09)
- Net Profit: -86% (4Q09), -69% (FY09)
- Press Release: Achieved full year net profit after tax of $14.1M despite global recession and financial crunch
- Net profit after tax of $2.6M for 4QFY09
- Declare a final cash dividend of 1 cent per share
- Strong cash balance of $53.6M against total borrowings of $6.9M; Gearing ratio further down to 0.02
- Outlook: The Group expects shipbuilders to continue purchasing stocks on a when needed basis.
- The Group does not expect the local economy to expand quickly and hence demand for its products will remain stagnant in the near term.
- The Group, however, expects selling prices to remain stable and margins firmer.
- Business conditions ahead will remain challenging for the Group but it will have sufficient reserves to weather the downturn.
- The Board of Directors expect market sentiment to improve only in the second half of the new financial year.
FINANCIAL RECORDS
Revenue (SGD '000)
FY 1Q 2Q 3Q 4Q Total
2009 111,704 92,494 50,020 67,514 321,732
2008 71,724 100,018 120,058 141,889 433,689
2007 55,289 65,107 76,887 86,889 284,172
2006 44,522 45,991 43,994 51,695 186,202
2005 34,844 52,157 67,999 42,819 197,819
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Earnings (SGD '000)
FY 1Q 2Q 3Q 4Q Total
2009 11,944 1,532 (1,969) 2,553 14,060
2008 7,358 8,261 10,785 18,702 45,106
2007 7,784 6,959 5,850 10,582 31,175
2006 3,441 2,715 3,132 6,441 15,729
2005 5,518 4,407 7,180 4,485 21,608
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Dividends
FY Interim Final Special Bonus (SGD)
2009 NA 0.010 NA NA
2008 0.01 0.010 0.015 0.03049
2007 0.01+0.005 0.005 0.01 0.0025
2006 NA 0.005 0.015 0.03125
2005 NA 0.005 0.025 NA
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Bonus / Rights / Stock Split
Date Type Details
2007-10-31 Rights OFFER OF 1 FOR 4 @ $0.1
2006-11-01 Rights OFFER OF 1 FOR 4 @ $0.1
2006-01-17 Bonus OFFER OF 1 FOR 5
1998-02-02 Bonus OFFER OF 1 FOR 5
1998-01-27 Bonus OFFER OF 1 FOR 5
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Share Data (SGD)
NAV = $0.3202
EPS = $0.0224 (12M FY09)
No of Shares = 627,370,610
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ANALYSTS' TARGET PRICES
Broker Recommendation Target Price Date
NA
Revenue (SGD '000)
FY 1Q 2Q 3Q 4Q Total
2009 111,704 92,494 50,020 67,514 321,732
2008 71,724 100,018 120,058 141,889 433,689
2007 55,289 65,107 76,887 86,889 284,172
2006 44,522 45,991 43,994 51,695 186,202
2005 34,844 52,157 67,999 42,819 197,819
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Earnings (SGD '000)
FY 1Q 2Q 3Q 4Q Total
2009 11,944 1,532 (1,969) 2,553 14,060
2008 7,358 8,261 10,785 18,702 45,106
2007 7,784 6,959 5,850 10,582 31,175
2006 3,441 2,715 3,132 6,441 15,729
2005 5,518 4,407 7,180 4,485 21,608
-----------------------------------------------------------
Dividends
FY Interim Final Special Bonus (SGD)
2009 NA 0.010 NA NA
2008 0.01 0.010 0.015 0.03049
2007 0.01+0.005 0.005 0.01 0.0025
2006 NA 0.005 0.015 0.03125
2005 NA 0.005 0.025 NA
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Bonus / Rights / Stock Split
Date Type Details
2007-10-31 Rights OFFER OF 1 FOR 4 @ $0.1
2006-11-01 Rights OFFER OF 1 FOR 4 @ $0.1
2006-01-17 Bonus OFFER OF 1 FOR 5
1998-02-02 Bonus OFFER OF 1 FOR 5
1998-01-27 Bonus OFFER OF 1 FOR 5
-----------------------------------------------------------
Share Data (SGD)
NAV = $0.3202
EPS = $0.0224 (12M FY09)
No of Shares = 627,370,610
-----------------------------------------------------------
ANALYSTS' TARGET PRICES
Broker Recommendation Target Price Date
NA
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