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Cosco Corporation: 2Q 2011 Results: Financial Quarter ended 30 June 2011 (1 Aug 11)

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  • Revenue: +3% (2Q11) +12% (1H11) 
  • Net Profit: -53% (2Q11), -31% (1H11)
  • Press Release: The Group turnover increased by 3.5% to $996.0m. 
  • Turnover from shipyard operations increased 6.3% to $981.8m on higher contributions from ship building and marine engineering projects.
  • Turnover from dry bulk shipping & other businesses dropped 63.5% to $14.2m mainly due to lower charter-hire rates.
  • Net profit attributable to equity holders of the Company slipped 53.4% to $31.9m on lower profit contributions from dry bulk shipping and shipyard operations, and higher income tax expense from a deferred tax benefit adjustment.
  • The Group will continue to leverage on the strength of its diversified business to remain competitive and fortifies its strategic market position. 
  • Outlook: As at 30 June 2011, the Group’s order book stood at US$7.0 billion with progressive deliveries up to first half 2014. 
  • This order book is subject to revision from any new orders or cancellation of orders that may arise.
  • The Group will continue to focus on deliveries while it upgrades its shipyard capabilities and efficiencies and control costs.
  • The Group maintains a cautious outlook for 2011 as the global economy remains fragile and its recovery uneven with growing concerns over the sovereign-debt crisis in Europe and other places. 
FINANCIAL RECORDS

Revenue (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2011 1,010,672 996,047
2010 835,031 962,456 952,716 1,111,242 3,861,445
2009 714,410 718,532 752,003 714,059 2,899,004
2008 717,656 1,047,137 987,734 723,482 3,476,009
2007 355,786 512,341 546,995 846,578 2,261,700
2006 267,592 265,349 317,772 364,756 1,215,469
2005 164,578 210,721 235,090 262,725 873,114
2004 24,662 27,552 32,465 31,667 116,346
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Earnings (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2011 37,087 31,863
2010 31,712 68,381 55,126 93,618 248,837
2009 33,151 37,028 22,283 17,618 110,080
2008 83,884 128,701 113,890 (23,887) 302,588
2007 41,954 80,381 97,748 116,485 336,568
2006 37,582 51,003 71,483 45,285 205,353
2005 25,799 39,360 56,566 38,770 160,494
2004 11,387 18,910 11,332 22,530 64,159
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Dividends

FY Interim Final Special (SGD)
2011 NA
2010 NA 0.040 NA
2009 NA 0.030 NA
2008 NA 0.040 0.030
2007 NA 0.040 0.030
2006 NA 0.025 0.015
2005 NA 0.020 NA
2004 NA 0.020 NA
2003 NA 0.01 NA
2002 NA 0.007 NA
2001 NA 0.006 NA
2000 NA 0.005 NA
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Bonus / Rights / Stock Split

Date Type Details
2006-01-23 Stock Split STOCK SPLIT OFFER OF 2 FOR 1
2004-04-26 Bonus OFFER OF 1 FOR 5
2000-02-29 Stock Split STOCK SPLIT OFFER OF 5 FOR 1
1999-10-13 Rights RCCPS OFFER OF 1 FOR 3 @ $1.5
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Share Data (SGD)

NAV = $0.5132
EPS = $0.0308 (6M FY11)
Diluted EPS = $0.0308 (6M FY11)
No of Shares = 2,239,244,954


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Sunday, August 07, 2011 | 0 Comments



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