Harta just announce their latest quater report,
5 sen interim dividen
eps 15.35 sen
Stunning performance !!!
回顾 harta financial performance
Harta eps 2008 = 31.94 sen
Harta eps 2009 = 34.88 sen
2010 - 1Q -EPS = 10.88 sen
2010 - 2Q -EPS = 13.66 sen
2010 - 3Q -EPS = 15.35 sen
2010 - 4Q -EPS = ？ sen
2010 full year estimate = ?? sen
The glove-maker posted 9M10 net profit of RM97m, up 82% yoy and within market estimates.
Key takeaways from the results:
(1) Revenue increased 28% yoy on higher demand resulting from the recurrent flu outbreak.
(2) Operating margins improved to 29.6% in 9M10 compared to 18.0% in 9M09 on improved
production efficiency and lower raw material prices.
(3)Natural latex prices declined 18% yoy to RM4.62/kg
9M10 from -RM19.5m in 9M09.
(4) A second interim dividend of 5sen/share has been declared, bringing the total dividend declared for FY10 to 10sen/share.
Hartalega trades at FY11E P/E of 11.8x and P/B of 3.6x, versus Top Glove’s P/E
12.5x and P/B 2.9x, and Supermax’s P/E 8.6x and P/B 1.8x.