Stock Name: TOMEI
Company Name: TOMEI CONSOLIDATED BHD
Company Name: TOMEI CONSOLIDATED BHD
| Research House: MERCURY | Price Call: HOLD | Target Price: 0.77 |
Showing posts with label TOMEI. Show all posts
Showing posts with label TOMEI. Show all posts
May 17, 2012
1Q/FY12 results - revenue within expectations but NPATMI below. Maintain Buy Call with revised TP.
Stock Name: TOMEI
Company Name: TOMEI CONSOLIDATED BHD
Company Name: TOMEI CONSOLIDATED BHD
| Research House: MERCURY | Price Call: BUY | Target Price: 0.93 |
February 27, 2012
Result Note - Tomei - 24 Feb 2012
Stock Name: TOMEI
Company Name: TOMEI CONSOLIDATED BHD
TOMEI CONSOLIDATED BERHAD
Highlights
Within expectations Tomei Consolidated Bhd (Tomei) FY11 results were within our expectations. Net profit of RM31.2m clocked in at 96% of our full year target whilst revenue of RM505.4m was 10% higher than our estimate. For the full year under review, revenue surged 42% YoY, while operating margin improved marginally from 10.4% a year ago to 10.7%. The better results were contributed by both manufacturing & wholesale and the retail segments on higher gold prices (Figure 2). Revenue contribution from manufacturing & wholesale sales jumped 53% from
RM74.4m to RM113.6m. PBT contribution soared 70% to RM8.3m from RM4.9m. Higher earnings in the manufacturing & wholesale segment was mainly due to higher sales volume to other jewellery retailers. Revenue contribution from the retail segment rose 39% to RM391.8m whilst PBT from retail segment rose 41% to
RM24.2m. Improved consumers spending in gold investment products and higher retail price in gold contributed to better results. The acquisition of the
'Goldheart' brand with 4 additional retail outlets also contributed positively to the group.
On a quarterly basis, 4Q revenue was relatively flat at
RM137.1m compared to previous quarter's RM135.3m. PBT of RM10.7% was however 27% lower QoQ, impacted by fluctuation in gold prices. On a yearly basis, 4Q results
were generally better than the corresponding quarter of last year. Revenue surged 46% YoY and net profit rose 25% YoY to RM6.2m from RM5.0m a year ago.
Fair Value of RM1.10 Gold prices fluctuated and peaked at USD1,900.23/oz on 5 September 2011 before it fell to as low as USD1,545.97/oz on 29 December 2011. It then picked up to close to USD1,770/oz recently. Tomei is undervalued, compared to the gold price movements (Figure 1). We have introduced our FY13 forecast and are maintaining our BUY recommendation on Tomei with a fair
value of RM1.16.
Source:Jupiter Securities Research 24 Feb 2012
Company Name: TOMEI CONSOLIDATED BHD
| Research House: JUPITER | Price Call: BUY | Target Price: 1.16 |
TOMEI CONSOLIDATED BERHAD
Highlights
Within expectations Tomei Consolidated Bhd (Tomei) FY11 results were within our expectations. Net profit of RM31.2m clocked in at 96% of our full year target whilst revenue of RM505.4m was 10% higher than our estimate. For the full year under review, revenue surged 42% YoY, while operating margin improved marginally from 10.4% a year ago to 10.7%. The better results were contributed by both manufacturing & wholesale and the retail segments on higher gold prices (Figure 2). Revenue contribution from manufacturing & wholesale sales jumped 53% from
RM74.4m to RM113.6m. PBT contribution soared 70% to RM8.3m from RM4.9m. Higher earnings in the manufacturing & wholesale segment was mainly due to higher sales volume to other jewellery retailers. Revenue contribution from the retail segment rose 39% to RM391.8m whilst PBT from retail segment rose 41% to
RM24.2m. Improved consumers spending in gold investment products and higher retail price in gold contributed to better results. The acquisition of the
'Goldheart' brand with 4 additional retail outlets also contributed positively to the group.
On a quarterly basis, 4Q revenue was relatively flat at
RM137.1m compared to previous quarter's RM135.3m. PBT of RM10.7% was however 27% lower QoQ, impacted by fluctuation in gold prices. On a yearly basis, 4Q results
were generally better than the corresponding quarter of last year. Revenue surged 46% YoY and net profit rose 25% YoY to RM6.2m from RM5.0m a year ago.
Fair Value of RM1.10 Gold prices fluctuated and peaked at USD1,900.23/oz on 5 September 2011 before it fell to as low as USD1,545.97/oz on 29 December 2011. It then picked up to close to USD1,770/oz recently. Tomei is undervalued, compared to the gold price movements (Figure 1). We have introduced our FY13 forecast and are maintaining our BUY recommendation on Tomei with a fair
value of RM1.16.
Source:Jupiter Securities Research 24 Feb 2012
February 24, 2012
Tomei Consolidated Berhad - BUY FV RM1.16
Stock Name: TOMEI
Company Name: TOMEI CONSOLIDATED BHD
Company Name: TOMEI CONSOLIDATED BHD
| Research House: JUPITER | Price Call: BUY | Target Price: 1.16 |
Within expectations Tomei Consolidated Bhd(Tomei) FY11 results were within our expectations. Net profit of RM31.2mclocked in at 96% of our full year target whilst revenue of RM505.4m was 10%higher than our estimate. For the full year under review, revenue surged 42%YoY, while operating margin improved marginally from 10.4% a year ago to 10.7%.The better results were contributed by both manufacturing & wholesale andthe retail segments on higher gold prices (Figure 2). Revenue contribution frommanufacturing & wholesale sales jumped 53% from RM74.4m to RM113.6m. PBTcontribution soared 70% to RM8.3m from RM4.9m. Higher earnings in the manufacturing& wholesale segment was mainly due to higher sales volume to other jewelleryretailers. Revenue contribution from the retail segment rose 39% to RM391.8mwhilst PBT from retail segment rose 41% to RM24.2m. Improved consumers spendingin gold investment products and higher retail price in gold
contributed to better results. Theacquisition of the 'Goldheart' brand with 4 additional retail outlets also
contributed positively to the group.
On a quarterly basis, 4Q revenue wasrelatively flat at RM137.1m compared to previous quarter's RM135.3m.
PBT of RM10.7% was however 27% lowerQoQ, impacted by fluctuation in gold prices. On a yearly basis, 4Q results weregenerally better than the corresponding quarter of last year. Revenue surged46% YoY and net profit rose 25% YoY to RM6.2m from RM5.0m a year ago.
Fair Value of RM1.10 Gold prices fluctuatedand peaked at USD1,900.23/oz on 5 September 2011 before it fell to as low asUSD1,545.97/oz on 29 December 2011. It then picked up to close to USD1,770/ozrecently. Tomei is
undervalued, compared to the gold pricemovements (Figure 1). We have introduced our FY13 forecast and are
maintaining our BUY recommendationon Tomei with a fair value of RM1.16.
Source: Jupiter Securities
December 20, 2011
Tomei Cons a 'buy', says OSK Retail
Stock Name: TOMEI
Company Name: TOMEI CONSOLIDATED BHD
OSK Retail Research has made a "buy" call on Tomei Consolidated Bhd with a target price of 95 sen in view of the company's stable earnings growth over the years.
In a research note today, OSK said Tomei also has attractive projected financial year (FY) 2012 dividend yield of 7.1 per cent and undemanding valuation of less than three times FY2012 earnings forecast.
"The company has strong collaboration with Parkson in the local market and will be tapping Parkson's regional presence in Vietnam and China," it said.
To date, the gold and jewellery retailer has 17 retail kiosks in Vietnam and China, which were mainly located in Parkson shopping complexes, it said.
It said the group planned to open two outlets each in these countries.
"There are 11 new stores in Tomei's outlet pipeline for the local market, while it is expected to close down about three or four non-performing outlets," OSK said.
At mid-day today, the stock was flat at 77 sen. -- Bernama
Company Name: TOMEI CONSOLIDATED BHD
| Research House: OSK | Price Call: BUY | Target Price: 0.95 |
OSK Retail Research has made a "buy" call on Tomei Consolidated Bhd with a target price of 95 sen in view of the company's stable earnings growth over the years.
In a research note today, OSK said Tomei also has attractive projected financial year (FY) 2012 dividend yield of 7.1 per cent and undemanding valuation of less than three times FY2012 earnings forecast.
"The company has strong collaboration with Parkson in the local market and will be tapping Parkson's regional presence in Vietnam and China," it said.
To date, the gold and jewellery retailer has 17 retail kiosks in Vietnam and China, which were mainly located in Parkson shopping complexes, it said.
It said the group planned to open two outlets each in these countries.
"There are 11 new stores in Tomei's outlet pipeline for the local market, while it is expected to close down about three or four non-performing outlets," OSK said.
At mid-day today, the stock was flat at 77 sen. -- Bernama
August 26, 2011
2Q/FY11 results. Revenue above expectations but NPATMI within. Maintain Buy Call.
Stock Name: TOMEI
Company Name: TOMEI CONSOLIDATED BHD
Company Name: TOMEI CONSOLIDATED BHD
| Research House: MERCURY | Price Call: BUY | Target Price: 0.96 |
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