12 August 2013

SUPER GROUP - 1H 2013 Report Summary - August 2013

Super Group announced 1H 2013 report recently.

EPS: S$0.105
NAV: S$0.7871
Annualized Estimated ROE: 26%

Note 1: S$ 20 M gain is from disposal of associate company S$ 17.1 M & foreign exchange gain of S$ 2.4 M. If we deduct this one off gain, the net profit will be around S$ 40 M or 4 million above last year.

Note 2:  The company still experienced negative Free Cash Flow (Cash Flow from Operating - Purchase of PPE) partly due to the reasons the company still in the expansion mode. However, it could also mean that it cannot afford to give more dividends as it has to conserve cash for long term investment.

You may see detailed explanation by management from the snapshot below:

You can see the management's comment of its business prospect below:

On 10 January 2013, we unveiled our new Super’s logo and brand identity at a private event  organized for our business partners.  To promote the new identity, we will continue to roll out advertising and promotional campaigns in some of our key markets.  We will also continue to consolidate our product lines and add new product variants to better capture the changing tastes of the consumers.  Management believes that the re-branding initiatives will help the Group to stay relevant to the   consumers and elevate Super’s position as a leading brand in the competitive Asia markets.  Raw material costs and currency fluctuations will affect the Group’s operating performance. Management  is familiar with these challenges and  will  take appropriate actions to mitigate their impact on the Group’s businesses.

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