Elite KSB   

Elite KSB

Very quiet stock bro but it does seem to be a very profitable company. Do you have any research materials on it ?

 

1H10 Revenue Up 79% to $43.4m


1H10 Earnings Up  29% to $4.5m

Thinly traded. Possible 1 cent dividend for FY10 provided it does not get affected by  strengthening A$


Earnings Discussion From Company

With the increase in revenue, gross profit increased by $4.70 million. Gross profit margin, however,
decreased by 1.5%. This was mainly due to the lower profit margin derived from our pork business, which
was acquired by our Group in January 2009. The Australian dollar remained strong against the Singapore
dollar during the period. We were also not able to pass on the cost increases to our customers due to the
competitive environment. Consequently, margin for our pork business continued to be depressed. Gross profit
margin for chickens and other meat products, however, remained stable.


Total operating expenses increased by $3.99 million from $3.64 million in 1HFY2009 to $7.63 million in
1HFY2010. Jordon accounted for $3.86 million of the increase. The remaining $0.13 million was a result of
the Group’s other increased business activities.


The Group’s finance costs increased by $0.02 million compared to the previous corresponding period. Other
charges decreased by $0.04 million due to lower allowance for impairments on trade receivables. This
decrease, however, was partially offset by the exchange loss resulting from the dividend received from our
PRC Associate. Included in the Other credits for this period is the government grant under the Job Credits
scheme.


The share of profit of associates for the period recorded a modest increase of $0.04 million as compared to
1HFY2009.


The Group’s profit before tax increased by $1.00 million in 1HFY2010, despite a slight loss registered by
Jordon.

 

Any one holding on to this stock other than me?