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ASIA ENTERPRISES REVENUE UP 44% Q-O-Q TO S$43.3M IN 2Q09 (06 Aug 09)

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  • Revenue: -20% (2Q09), -32% (1H09)
  • Net Profit: -88% (2Q09), -80% (1H09)
  • Press Release: Group sales improved on the back of a pick-up in economic and industrial activities
  • Net profit eased to S$1.2m due to lower average selling prices amid a more competitive environment
  • Group maintains healthy balance sheet with cash balances rising to S$21.8m
  • Outlook: The Group envisages business conditions in the steel distribution industry during the second half of 2009 to remain challenging as intense competitive conditions will continue to prevail.
  • As such, the Group will continue to place strong emphasis on maintaining its sound financial health, while capitalising on business prospects in sectors with firm steel requirements and further strengthening relationships with its existing customers.
  • With a healthy financial position comprising cash and cash equivalents of S$21.8 million and no major long-term financial obligations, the Group believes the consistency of its prudent approach towards business and financial matters of the organisation will better position it to withstand the slower periods of the steel industry cycle, maintain business agility, and be ready for any opportunities when they arise.
FINANCIAL RECORDS

Revenue (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 30,056 43,257
2008 54,630 53,934 43,820 24,993 177,377
2007 40,481 48,696 45,595 48,174 182,946

FY 1H 2H Total
2006 63,178 85,850 149,028
2005 63,414 68,067 131,481
2004 41,680 39,815 81,495
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Earnings (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 1,769 1,259
2008 5,192 10,250 8,161 (16,172) 7,431
2007 4,453 6,391 5,335 3,359 19,538

FY 1H 2H Total
2006 6,155 9,152 15,307
2005 8,613 3,515 12,128
2004 4,959 6,973 11,932
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Dividends

FY Interim Final Special (SGD)
2009 NA
2008 NA 0.01100 NA
2007 NA 0.02857 NA
2006 NA 0.02239 NA
2005 NA 0.01774 NA
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Bonus / Rights / Stock Split

Date Type Details
NA
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Share Data (SGD)

NAV = $0.3455
EPS = $0.011 (6M FY09)
No of Shares = 273,534,000
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA



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