Rotary Engg   

Rotary

Profit taking in-progress. It will move even higher and stronger after profit taking. Look out for breakout if no major negative news.

 

Pass $1 mark... Well done rotary!

 

Worth investing as Rotary's fundamental is strong and expect to yield better profit margin.

 

Rotary Engineering Ltd – 4QFY10 Results (Derrick Heng)

Recommendation: Buy

Previous close: S$0.895

Fair value: S$1.32

 

• Revenue increased by 27.6% to S$704.2mn, while PATMI increased 17.5% to S$63.7mn.

• Gross Profit Margins for the quarter above expectations again.

• Tax Incentives to boost profits Foreign worker levy increase not significant.

• Final dividend of 3.8cents proposed.

• Unrest in the Middle East could hurt near term sentiments.

• Maintain Buy recommendation with target price of S$1.32.

 

/ps/

 

 

That is very good...

      provided the institutions are also thinking the same thing at this moment...

Bon3260      ( Date: 22-Feb-2011 09:51) Posted: I'm buying! When pple fear throwing...   ('',)

 

Rotary Engineering: FY10 results surpass expectations

Summary: Rotary Engineering (Rotary) reported its FY10 results this morning with revenue growing 28% to S$704.2m and net profit increasing 18% to S$63.7m, surpassing our S$55.4m estimate. For its 4Q10, revenue grew 9% YoY and 3% QoQ to S$159.6m, gross profit increased 6% YoY and 25% QoQ to S$48.3m, and net profit improved by 4% YoY and 164% QoQ to S$27.1m.

Gross profit margin held steady at 30.2% (vs. 31.1% in 4Q09), while net profit margin came in at 17.0% (vs. 17.8% in 4Q09). For the full year, gross profit margin declined from 23.5% in FY09 to 22.3% in FY10, but still surpassed management’s 15%-20% guidance. Net profit margin contracted by 0.7ppt to 9.1%. A final dividend of 3.8 S cents has been declared.

We will have more updates after the analyst briefing later today. For now, we put our BUY rating and S$1.22 fair value estimate under review. (Lee Wen Ching) iocbc

 

Rotary: Stable 4Q results bring FY10 rev to $704.2m +27.6%yoy and net profit $63.7m +17.5%yoy. Gross margins slipped slightly to 22% from 24% in prev yr. Both receivables and payables turnover have increased but of little concern at this point unless it continues. Order book at $0.9b with 92% of projects overseas.

Of note, co has started on a $1.1b project in Jubail, Saudi Arabia since 2009, which may be at risk if unrest spreads there. Dividend of 3.8c declared, together with interim of 1c earlier translates to an approx yield of 4.32%. Co’s share price has been trending downward and fell precipitously since the unrest started, prob due to general weakness of mkt as well. Closed at 0.88 at support of 0.875 prev yr lows.

 

FULL YEAR RESULTS * FINANCIAL STATEMENT AND RELATED ANNOUNCEMENT

* Asterisks denote mandatory information

 

" DISCLAIMER:- This announcement was prepared and issued by the below mentioned listed issuer to the Exchange. The Exchange assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained in this announcement and is posting this announcement on SGXNET for the sole purpose of dissemination only. In the event of any queries or clarification required in respect of any matters arising from this announcement, such queries are to be made to the listed issuer directly and not to the Exchange. The Exchange shall not be liable for any losses or damages howsoever arising as a result of the circulation, publication and dissemination of this announcement."

 

Name of Announcer *	ROTARY ENGINEERING LIMITED
Company Registration No.	198000255E
Announcement submitted on behalf of	ROTARY ENGINEERING LIMITED
Announcement is submitted with respect to *	ROTARY ENGINEERING LIMITED
Announcement is submitted by *	Tan Cher Liang
Designation *	Company Secretary
Date & Time of Broadcast	24-Feb-2011 07:20:25
Announcement No.	00013

 

 

> > ANNOUNCEMENT DETAILS

The details of the announcement start here ...

 

For the Financial Period Ended *	31-12-2010
Description	Please refer to the following announcements attached: (1) Announcement on FY2010 Results (2) Press Release: Rotary Engineering posts record S$63.7m net profit on highest-ever revenue of S$704.2m for FY2010 proposes final dividend of 3.8 cents per share

 

 

Attachments

FullYearResults_FY2010.pdf   PressRelease.pdf Total size = 431K (2048K size limit recommended)