20 February 2013

Singapore Stock Market - 20 Feb 2013

Stocks in Focus: AEI, Roxy Pacific, Sarin Technology, Soup Restaurant, 

AEI - AEI Group achieved revenue of $41.2 million for FY2012, a decrease of 28.2% from $57.4 million achieved last year. The decrease was mainly due to weak demand from the Group’s core business, Electronic and Precision Engineering segment. The Group’s gross profit increased by 117.1% from $1.8m in FY2011 to $3.9 million in FY2012. The increase in gross profit was mainly due to change in product mix and the easing of raw material cost in FY2012, as a result of the write-down of inventories to net realizable value arising from lower LME aluminum prices as at 2011 year end. Overall, the Group reported a net profit of $4.7 million attributable to shareholders in FY2012.

Roxy Pacific - ROXY-PACIFIC ACHIEVES RECORD NET PROFIT OF S$58.3 MILLION IN FY2012. Strong performance recorded in FY2012 and 4Q2012 largely due to higher revenue recognition from Property Development segment. Its Gross Profit Margin rose 6 percentage points from previous corresponding period to 40% in FY2012 . High earnings visibility with progress billings of approximately S$861.7million, to be recognised from 1Q2013 to FY2016. Strong financial flexibility with cash and cash equivalents of S$253.2million. Proposed a final cash dividend of 0.92 SGD cents per share. Total dividends paid and proposed of 1.59 cents (2011: 1.33 SGD cents) per share, 20% higher compared to prior year

Sarin Technology - For the year ended December 31, 2012, the Group reported record revenues of US$ 63.8 million, record profit from operations of US$ 24.5 million and record net profit of US$ 20.8 million, as compared to revenues of US$ 57.8 million, profit from operations of US$ 21.3 million and net profit of US$ 17.4 million for the year ended December 31, 2011. These record results were achieved despite a significant decline in industry activity during the months from June through September, during which manufacturing and trading activities dropped by some 40% in India and up to 20% in other industry centres, such as Belgium and Israel, a drop which significantly impaired the Group's results for Q3 2012. The Group's record results for the year stemmed from accelerated Galaxy™-related penetration and usage in 2012, overall positive business sentiment that existed through May 2012 and the upturn in sentiment in India and elsewhere in Q4.

Soup Restaurant Group revenue for the financial year ended 31 December 2012 ("FY12") was S$35.3 million, an increase of S$2.0 million or 6.1% as compared to S$33.2 million for last year ("FY11"). This was largely attributed by the additional full-year contribution from three new outlets which commenced operations in 2011 as well as improved revenue from the existing outlets by 2.3%. The increase in revenue was partially offset by the loss of revenue from the closure of two underperforming outlets during the year. The Group generated profit attributable to owners of the Company for continued operations of S$3.7 million which represented an increase of S$2.2 million or 126.9% as compared to FY11. Earnings per share increased more than doubled to 1.25 cents in FY12 from 0.55 cents as compared to FY11.

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