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Richard Pieris group operating profits rise

4 posters

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Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

The Richard Pieris Group ended its first nine months with a strong growth of 95% in operating profits of all its sectors other than the plantation sector.

The nine months to 31st December 2011 showed steady growth in the group’s retail, plastic and rubber sectors with the company saying “the Group is well poised to achieve its targets during the year with plans underway for an aggressive expansion of its large format super market retail outlets and diversification plans into the financial services sector.”

Group turnover was Rs.8.6 billion and an operating profit of Rs.1 billion for the three months ended 31st December 2011. The turnover for the nine months ended December 2011 was Rs.23.5 billion resulting in a group operating profit of Rs.2.8 billion and a profit before tax of Rs.2.3 billion.

Courtesy - The Sunday Times

Sudarshen


Manager - Equity Analytics
Manager - Equity Analytics

We can hope a better dividend in next time. Is it possible 50 - 60 Cents per share ?

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

Sudarshen wrote:We can hope a better dividend in next time. Is it possible 50 - 60 Cents per share ?

You mean Final dividend? Should be about Rs 0.10 - 0.20.
Even in the future if they do give dividends of huge proportions ( not more than 50% of earnings) it is not that good for the company. They need to reinvest it to make share holder wealth growth through expansions, acquisitions and growth.
Also last dividend was higher due to capital gains from AAIC disposal.

Anyway overall I see this as a decent company having a bright future . They other sectors including retail are growing and they are getting gradually less dependany on plantations.

early


Manager - Equity Analytics
Manager - Equity Analytics

Also the Co. balance sheet is very strong. During the 9 months Current Assets have increeased by Rs.2.362bn whereas Current Liabilities have increased by only Rs.919Mn.
With an annualised Earnings Per Share (EPS) of around Rs.1.20(9 months - Cts0.90), it is currently trading at a Price to Earnings Ratio(PER) of approx. 6 times.
This makes the share extremely attractive at the current price given the Market PER is 13.85(CSE Daily Report).Therefore this share should give very good returns in the Med - Long term.
However I cannot predict how the share would move in the Short Term. These are my views only and please base your investement decesions giving due consideration to the overall market trends as well.

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