Latexx continues to see strong performance in its business for the remaining quarter of the year

Recent Financial Results

Announcement Date		Financial Yr. End		Qtr	Period End		Revenue RM '000		Profit/Lost RM'000		EPS		Prof. Marg %
10-Nov-10		31-Dec-10		3	30-Sep-10		129,878		17,625		8.19		13.6%
06-Aug-10		31-Dec-10		2	30-Jun-10		134,483		21,551		10.01#		16..0%
03-May-10		31-Dec-10		1	31-Mar-10		126,171		20,715		9.63#		16.4%
02-Nov-09		31-Dec-09		3	30-Sep-09		80,839		14,274		6.63#		17.7%

#Basic EPS adjusted for capital changes


9M 2010  (unaudited)
Revenue 390.532m
Earnings 59.891m
Profit Margin = 59.891 / 390.532 = 15.3%


Estimated 12M 2010
Estimated Revenue = 390.532 x (4/3) = 520.71m
Estimated Profit Margin = 14%
Estimated Earnings = 14% x 520.71m = 72.90m


Navis is offering 852.03m to take the whole business private.
At this offer price, the PE = 852.03 / 72.90 = 11.7 x




30.9.2010
Total Equity  233.895m
P/B = 852.03 / 233.895 = 3.64 x
(Net Asset Value per share = 1.0700)


Cash and bank balances 54.614m
Long term borrowings 18.536m
Short term borrowings 18.783m
Current portion of long-term borrowings 3.551m
Hire purchase/lease creditors 14.300m
Net Cash =   -0.556m



Current Assets 172.342m
Current Liabilities 107.024m
Current Ratio 1.61 x


Cash Flow Statement
Net CFO 55.627m
CFI (9.915m)
FCF 45.712m

Outlook

In summary, we strongly believe that with the company’s ability to pass-on costs to customers, coupled with our strategies to focus on the premium segments in both nitrile and natural rubber, we are able to cope with the temporary headwinds and move on to advance our market presence. The Group continues to see a strong performance in its business for the remaining quarter of the year.  The Board expects the demand for the Group’s products and services to improve further in the fourth quarter and the business of the Group for the remaining period to the end of the financial year to remain strong. Nevertheless, Latexx will continuously strive to produce the highest quality of gloves through the adoption of the latest techniques, technology and to train and motivate our employees for the enhancement of efficiency and productivity and pursue to be caring organization through our commitment to the well being of environment and community. 

	Current Quarter 3 months ended 30.09.10
Weighted average number of ordinary  shares in issue (‘000)	215,095
Effects of dilutive potential ordinary shares on conversion of warrants (‘000)	44,611
Adjusted weighted average number of ordinary shares in issue and issuable (‘000)	259,706