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China Farm Equipment reports 2Q FY09 Results (11 Aug 09)
Labels:
China Farm
- Revenue: -34.8% (2Q09), -27.7% (1H09)
- Net Profit: -60.33% (2Q09), -59.49% (1H09)
- Outlook: As the purchasing power of the farmers increased, this worked in favor of the Group’s farming equipment especially combine harvesters in the mid to long term.
- Being one of the key domestic players in China, the Group will continue to focus on its core products and businesses, namely the combine harvesters, plough machines and diesel engines.
- The Group has adopted a prudent stance in maintaining its competitive market positioning, with measures such as continuous research and development, stringent cost control measures and marketing efforts to extend its reach to the various farming areas across China.
- Facing challenges such as seasonality of farming equipment demands, volatile material prices and credit risk, the Group maintains a cautious outlook for its business in the next 12 months.
Revenue (RMB '000)
FY 1Q 2Q 3Q 4Q Total
2009 56,649 110,014
2008 61,761 168,739 95,675 22,612 348,787
2007 42,684 140,766 123,696 88,871 396,017
2006 32,741 130,729 86,039 29,468 278,977
2005 NA NA NA NA 236,474
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Earnings (RMB '000)
FY 1Q 2Q 3Q 4Q Total
2009 2,224 14,695
2008 4,718 37,045 2,564 (43,950) 377
2007 3,604 33,460 20,976 13,258 71,298
2006 1,311 29,080 12,551 7,080 50,022
2005 NA NA NA NA 35,980
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Dividends
FY Interim Final Special (SGD)
2009 NA
2008 NA NA NA
2007 NA 0.010 NA
2006 NA 0.012 NA
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Bonus / Rights / Stock Split
Date Type Details
NA
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Share Data (RMB)
NAV = $0.9954
EPS = $0.0699 (6M FY09)
No of Shares = 242,000,000
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ANALYSTS' TARGET PRICES
Broker Recommendation Target Price Date
NA
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