Koda - caught a cold
Koda released its FY2008 results today. And it performed as it had warned its shareholders it would – badly.
But it did say it will be financially sound and profitable in FY2009.
The furniture company declared a final dividend of 0.5 Singapore cents. This adds to its interim dividend of 0.5 Singapore cents, making its total dividend payout for the year 1 Singapore cent per share.
Koda had said in July that its revenue, profit margin and net profit will be lower for FY2008.
It announced today its FY2008 revenue dropped 8.5% to US$54.9 mln while net profit decreased 42% to US$4.2 mln. Koda blamed weaker orders from the US and EU, and higher overall costs for its bad showing.
It managed to maintain a positive cash flow, though – it gained US$3.1 mln in cash from operations compared to the US$5.9 mln it generated the previous year. It has US$5.1 mln in free cash flow.
Analysts surveyed by Reuters have on average an OUTPERFORM call on the stock with a price target of S$0.5175, compared to its last traded price of S$0.18.
On 20 June, Koda announced that Blackhorse Asset Management sold off a small stake in Koda – it reduced its holdings from 11.95% to 11.92%. Blackhorse kept selling off more in the next few weeks. As of the last announcement on 7 August, Blackhorse owned 10.86% of Koda.
On the other end, on 16 July, the Koh siblings James Koh, Koh Jyh Eng and Koh Shwu Lee raised their stakes in Koda. MD James Koh raised his stake from 18.43% to 18.69%, Koh Jyh Eng who is executive director of sales and marketing raised his from 9.32% to 9.45%, and Koh Shwu Lee, who is director of finance and administration, raised her holding from 9.14% to 9.21%.
The move by the directors seems like an attempt to soften the impact of the lack of confidence shown by Blackhorse.
Based on its FY2008 earnings, it has a P/E of 3.83 and a P/B of 0.63. During its breakout last year, Koda’s stock price managed to hit S$1 in April. It is currently in the doldrums, trading at S$0.18.
As always, please see your licensed financial advisor before making any investment decisions.
ArchivesBut it did say it will be financially sound and profitable in FY2009.
The furniture company declared a final dividend of 0.5 Singapore cents. This adds to its interim dividend of 0.5 Singapore cents, making its total dividend payout for the year 1 Singapore cent per share.
Koda had said in July that its revenue, profit margin and net profit will be lower for FY2008.
It announced today its FY2008 revenue dropped 8.5% to US$54.9 mln while net profit decreased 42% to US$4.2 mln. Koda blamed weaker orders from the US and EU, and higher overall costs for its bad showing.
It managed to maintain a positive cash flow, though – it gained US$3.1 mln in cash from operations compared to the US$5.9 mln it generated the previous year. It has US$5.1 mln in free cash flow.
Analysts surveyed by Reuters have on average an OUTPERFORM call on the stock with a price target of S$0.5175, compared to its last traded price of S$0.18.
On 20 June, Koda announced that Blackhorse Asset Management sold off a small stake in Koda – it reduced its holdings from 11.95% to 11.92%. Blackhorse kept selling off more in the next few weeks. As of the last announcement on 7 August, Blackhorse owned 10.86% of Koda.
On the other end, on 16 July, the Koh siblings James Koh, Koh Jyh Eng and Koh Shwu Lee raised their stakes in Koda. MD James Koh raised his stake from 18.43% to 18.69%, Koh Jyh Eng who is executive director of sales and marketing raised his from 9.32% to 9.45%, and Koh Shwu Lee, who is director of finance and administration, raised her holding from 9.14% to 9.21%.
The move by the directors seems like an attempt to soften the impact of the lack of confidence shown by Blackhorse.
Based on its FY2008 earnings, it has a P/E of 3.83 and a P/B of 0.63. During its breakout last year, Koda’s stock price managed to hit S$1 in April. It is currently in the doldrums, trading at S$0.18.
As always, please see your licensed financial advisor before making any investment decisions.
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