- Label : Mamee
3rdQ'07 Diluted EPS = 6.31 sen (compare to 3rdQ'06 Diluted EPS =9.12sen)
9 months EPS = 12.59sen (compare to corresponsding 2006 Diluted EPS = 27.08 sen)
Review
TheGroup's turnover for the third quarter improved by 4%compared to the corresponding quarter in the previous year mainly due to higher export sales. For the 6months under review, the Group's turnover had also recorded a 3% grow thasa result of higher contribution from the export market. Overall local sales were sluggish due to intense competition. Profit before tax for the third quarter had shown a slower pace of decrease by 16%due to lower advertisement and selling expenses as a result of recent effort to reshape the orgnisation. For the 9months period to date profit before tax was lower by45%. This was mainly due to higher raw materials costs, as well as higher distribution cost incurred for the 1st half of 2007.
"Hold" call due to high raw materials and intense competition.