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SSH reports $15.3 million full year net profit (12 Aug 09

Labels:

  • Revenue: -36 (4Q09), -13% (FY09)
  • Net Profit: -105% (4Q09), -45% (FY09)
  • Press Release: Revenue stood at $217.6 million
  • Net profit after tax totalled $15.3 million
  • Performance affected by $9.7 million provision for inventories write down
  • Gearing ratio reduced from 0.48 to 0.29
  • Group proposes dividend of 0.88 cent per ordinary share
  • Outlook: The oil and gas, petrochemical and marine offshore industries, in which the Group operates, has yet to see a general recovery from the global economic crisis.
  • However, oil prices have increased in recent months.
  • If this is sustained, it may induce more oil exploration, which may result in an increase in the demand for its products and services.
  • In addition, steel prices have increased and this may also affect the demand for its products.
  • The Group will continue to monitor the operating expenses and explore other areas of business opportunities.
  • The Group will continue to operate in a challenging and competitive environment for the next financial year and expects to be profitable.

FINANCIAL RECORDS

Revenue (SGD '000)

FY 1Q 2Q 3Q 4Q Total

2009 62,609 55,111 53,533 46,362 217,615
2008 58,589 56,118 62,276 72,349 249,332

FY 1H 2H Total
2007 77,503 97,732 175,235
2006 50,472 53,875 104,347
2005 NA NA 72,579
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Earnings (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 8,337 5,267 2,104 (419) 15,289
2008 8,220 4,313 6,820 8,195 27,548

FY 1H 2H Total
2007 8,289 9,773 18,062
2006 5,058 5,315 10,373
2005 NA NA 8,070
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Dividends

FY Interim Final Special (SGD)

2009 NA 0.0088 NA
2008 0.0070 0.0090 NA
2007 0.0055 0.0045 NA
2006 0.0025 0.0030 NA
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Bonus / Rights / Stock Split

Date Type Details

2002-11-27 Rights 2RTS1WT FOR4SH OFFER OF 2 FOR 4 @ $0.04
1997-11-25 Bonus OFFER OF 1 FOR 2
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Share Data (SGD)

NAV = $0.215
EPS = $0.0283 (12M FY09)
No of Shares = 540,567,507
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA



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