Kumpulan Fima just released their results today. Net profit was decent at RM14.8 million, which was a 50% increase year-on-year. Earnings growth were observed across all business segments. Nonetheless, earnings were down by 15% quarter-on-quarter, triggered by lower profit from manufacturing, plantations and associates.
EPS for the quarter was at 5.63 sen, with cumulative 9-Month CY2010 (Calender year) EPS standing at 16.9 sen. EPS for 4Q CY2010 could hit 6 sen easily, making EPS for the total year at 22.9 sen. Thus, PE for CY2010 could be at 5.7x. Net cash position continued to rise to RM120.7 million or 45.9 sen. I'm seeing another Faber in the making, quite similar in terms of the numbers. Recall that Faber was still at RM1.40 when net cash was at RM100m, PE of 6x, dividend yield at about 4% and stable and diversified earnings. Its stock price eventually doubled.
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