Friday, May 30, 2008

Full year results for china milk and pac andes

I was suitably impressed by the great showing of my companies that released their full year results today - china milk and pac andes.

I admit that I did not buy pac andes on fundamental grounds. In fact, I entered it solely due to dbs brokerage report back in 2006. Back then, I did no technical nor fundamental analysis. As such, my knowledge of this company is severely lacking. I'm trying my best to correct this, so haha, bear with me :)

Pac andes

Gross margins---------21.6%---------17.8%
Net PATMI margins---6.9%-----------7.3%
Currents ratio----------1.5x-----------1.9x

*note: ROE is PATMI divided by equity attributable to shareholders
*Debt/equity is Total liabilites divided by total equities

Dividends declared is 0.0207 SGD per ordinary share, which works out to be $20.70 per lot. I wish they have scrip dividend options too, seriously. You can read all the rave in their press statement and their full year annual results.

China milk

Operating margins-----90.6%---------91.3%
Net margins------------87.9%---------85.5%
Currents ratio----------14.9x-----------9.8x
EPS (RMB)-------------0.65-----------0.51

Should be expecting more revenue and earnings coming from their raw milk production. Their plant is ready for production. An interesting fact is that they keeping on saying their plant is ready to commence production for a 'major customer' soon. I wonder who that major customer is. I hope and hope it's Mengniu :) Win-win situation for all :)