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Tat Hong posts Net Profit of S$10.6M in 1QFY2010 (14 Aug 09)
- Revenue: -37% (1Q10)
- Net Profit: -64% (1Q10)
- Press Release: Revenue declines 37% to S$120 million
- Impacted by slowdown in Equipment Sales and lower revenue contribution from General Equipment Rental
- Marginally offset by 49% increase in Tower Crane revenue
- Gross profit margin improves to 39.4% in 1QFY2010
- Net gearing remains stable at 0.53 times as at June 30, 2009
- Outlook: The global financial crisis and the slowing economy are expected to affect the Group’s financial performance in FY2010.
- The Group expects the Equipment sales division’s performance continue to be weak as customers still remain cautious on capital investments or commitments.
- However, performance for other divisions are expected to be relatively more stable with the help of the stimulus packages released by the respective governments in some of the key markets which the Group is currently operating.
- Baring any unforeseen circumstances, the Group is expecting to remain profitable in FY2010
FINANCIAL RECORDS
Revenue (SGD '000)
FY 1Q 2Q 3Q 4Q Total
2010 120,091
2009 191,335 183,694 146,073 110,659 631,761
2008 138,092 160,205 157,908 183,666 639,871
2007 107,920 105,148 135,312 134,102 482,482
2006 99,982 108,601 100,734 98,401 407,718
2005 60,606 73,433 75,575 99,083 308,697
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Earnings (SGD '000)
FY 1Q 2Q 3Q 4Q Total
2010 10,552
2009 29,203 22,109 2,972 14,605 68,889
2008 17,314 22,881 21,210 28,381 89,786
2007 10,423 9,252 17,615 41,665 78,955
2006 7,470 9,161 16,997 10,626 44,254
2005 3,388 6,717 2,333 8,027 20,577
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Dividends
FY Interim Final Special (SGD)
2009 0.035 0.015 NA
2008 0.038 0.038 NA
2007 0.015 0.03 0.055
2006 0.013 0.017 0.01
2005 0.008 0.0096 NA
2004 0.013 0.008 NA
2003 0.00468 0.00546 NA
2002 NA 0.00468 NA
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Bonus / Rights / Stock Split
Date Type Details
NA
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Share Data (SGD)
NAV = $0.81
EPS = $0.0209 (3M FY10)
No of Shares = 504,666,000
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ANALYSTS' TARGET PRICES
Broker Recommendation Target Price Date
NA
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