OIL & GAS FABRICATOR PANTECH GROUP 4QE FEB 2009 NET PROFIT HIGHER

CLASSIFICATION: ACCOUNTING/AUDIT NOTIFICATION/ANALYSIS & BUSINESS PROJECTIONS
TYPE: Short Analysis / Reviews
13 May 2009

OIL & GAS FABRICATOR PANTECH GROUP 4QE FEB 2009 NET PROFIT HIGHER PANTECH GROUP HOLDINGS recorded marginally higher Net Profit of RM8.7m for 4QE Feb 28, 2009 compared with RM8.2m a year earlier despite Revenue surging 84% to RM139.3m from RM75.7m.

The Net Profit included a Provision of Stock Writedown of RM9.2m.

FULL FYE FEB 2009 RESULTS SHOW HIGHER PROFIT
Full FYE Feb 2009 was boosted to RM511.2m from RM313.3m compared with the previous year. PANTECH said Apr 27, 2009 that its full-year Net Profit jumped 75% to RM59.6m from RM34.1m in the previous year due to higher manufacturing output, higher sales volume, better product mix from the trading division and contribution from overseas operation.

FINAL SINGLE-TIER DIVIDEND PROPOSED
The Company proposed a final single-tier dividend of one sen per share totalling RM3.7m, bringing Total Dividend for FYE Feb 2009 to three sen per share. EPS to 15.94 sen from 9.1 sen, while Net Assets per share increased to 53 sen from 39 sen.

PROSPECT FOR 2009
On prospects for the current financial year, the Company said the duration, extent and impact of the persisting global financial meltdown were uncertain.

" .... Therefore, the Board will adopt a cautious approach to monitor the situation and mitigate any negative impact through diligent administration of operation cost controls and cash flows .... In view of the above, the board foresees the next financial year will be a challenging year for the Group ...." it said, adding that the Group's performance for the next financial year would be in line with the overall performance of the oil and gas fabrication and other services sector while the long-term outlook continued to be positive.

TARGET PRICE = 0.85sen

HUAAN result differ!? Computer Glitch on Financial Result ??

There seem to have some problem with the financial result with the online trading system comparing with annoucement from Bursa website :-

Below is captured from my trading system :-


This is from Bursa Website :-


Obviously HUAAN is running into loss of EPS = -2.11 for this quarter but what captured from the trading system is in positive zone. Misleading !!

Likely that this gonna affect the entire financial annoucements, so be careful folk when you searching for financial result, cross check with bursa's website for it accuracy.

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