Thursday, April 26, 2012

Yeo Hiap Seng 1Q12 Result Review

1. Net profit increased by 7% to RM8.17m. Accordingly, EPS up by  to 7% to 5.35 sen.
2. Book Value increased by 7 sen to RM1.80 per share.
3. Although Malaysia business 1Q12 PBT improved by 17% YoY to RM11.75m, Indonesia suffered loss before tax of RM1.26m (vs. RM0.18m PBT in 1Q11).
4. Loss in Indonesia is caused by higher advertising costs and forex losses.
5. YHS closed at RM2.88 yesterday or 17.6x historical PE and 1.6x Price-To-Book.

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