9M ended 30th Sept 2011
Sarawak Oil Palm
Balance Sheet
Assets
NCA 1,306.091m
CA 651.179m
Total Assets 1,957.270m
Equity and Liabilities
Total Equity 1,306.580m
NCL 462.435m
CL 188.254m
Total Liabilities 650.689m
Total Equity and Liabilities 1,957.270m
Net asset per share (RM) 2.69
Cash and bank balances 476.221m
LT Borrowings 341.398m
ST Borrowings 30.755m
Income Statement
Revenue 852.724m
Gross Profit 316.313m
PBT 297.728m
PAT 220.269m
Profit attributable to
Owners of the parent 199.626m
Finance costs (5.121m)
Tax paid (77,459m)
EPS to equity holders of parent (sen)
Basic 46.17
Diluted 45.42
Dividend on ordinary shares
At 1 January 2011 (13.004m)
At 1 January 2010 (9.659m)
Cash Flow Statement
PBT 298.145m
Op Profit before working cap changes 339.695m
Net cash from operating activities 228.706m
Net cash used in investing activities (155.118m)
Net cash generated from financing activities 33.939m
Capital Exp (Acquisition of PPE) (162.682m)
FCF 66.024m
Explanatory Notes To The Interim Report – 30 September 2011
B. BMSB Listing Requirements (Part A of Appendix 9B)
B1. Review of performance
The Group registered a total revenue of RM852.7 million for period ended 30 September 2011 compared with RM515.6 million reported in the corresponding period in year 2010. The increase of RM337.1 million in revenue was mainly attributed to the higher average Crude Palm Oil (CPO) and Palm Kernel (PK) prices realized and sales volume during the period. The sales volume for CPO and PK increased by 47,183 mt or 28% and 10,549 mt or 31% respectively compared to previous year corresponding period.
In line with the increase in total revenue, the Group registered a profit before tax for the period of RM297.7 million. This represents an increase of 95.1% or RM145.1 million compared to RM152.6 million achieved during the corresponding period in year 2010.
B2. Material changes in profit before taxation for the quarter as compared with the immediate
preceding quarter
For the quarter under review, the Group registered a lower profit before tax of RM103.8 million compared to RM112.6 million in the previous quarter due to softening of the CPO and PK prices realized, despite an increase of volume of CPO sold by 20,032 mt or 28%.
The average selling price of CPO and PK realized for the current quarter were RM3,166 and RM2,034 per mt respectively.
B3. Prospects for the current financial year
The performance of the Group is largely dependent on developments in the world edible oil market, bio-diesel market, fossil oil market, movement of Ringgit Malaysia, world economic situation and their corresponding effect on CPO price.
B9. Borrowing and debt securities
30 September 2011
RM’000
Current
Secured 20,791
Unsecured 9,964
Non-current
Secured 336,314
Unsecured 5,084
Total 372,153
The above borrowings are denominated in Ringgit Malaysia.
Basic earnings per share
The calculation of basic earnings per share for the quarter is based on the profit attributable to equity holders of the parent of RM75.1 million and on the weighted average number of ordinary shares of RM1 each in issue during the period of 433,777,699.
Diluted earnings per share
The diluted earning per share for the quarter is based on the profit attributable to equity holders of the parent of RM75.1 million and on the weighted average number of ordinary shares of RM1 each in issue during the period of 440,911,509.
Market price MR 4.66 (25.11.2011)
Market capitalisation 440.911509m x MR 4.66 = 2,054.65m
SOPB BMSB 3rd quarter_2011.pdf
23-11-2011
Price RM 4.50
PE 8.72x
DY 0.89%
Market Cap RM 1,953.7m
ROE 21%
Sarawak Oil Palm
Balance Sheet
Assets
NCA 1,306.091m
CA 651.179m
Total Assets 1,957.270m
Equity and Liabilities
Total Equity 1,306.580m
NCL 462.435m
CL 188.254m
Total Liabilities 650.689m
Total Equity and Liabilities 1,957.270m
Net asset per share (RM) 2.69
Cash and bank balances 476.221m
LT Borrowings 341.398m
ST Borrowings 30.755m
Income Statement
Revenue 852.724m
Gross Profit 316.313m
PBT 297.728m
PAT 220.269m
Profit attributable to
Owners of the parent 199.626m
Finance costs (5.121m)
Tax paid (77,459m)
EPS to equity holders of parent (sen)
Basic 46.17
Diluted 45.42
Dividend on ordinary shares
At 1 January 2011 (13.004m)
At 1 January 2010 (9.659m)
Cash Flow Statement
PBT 298.145m
Op Profit before working cap changes 339.695m
Net cash from operating activities 228.706m
Net cash used in investing activities (155.118m)
Net cash generated from financing activities 33.939m
Capital Exp (Acquisition of PPE) (162.682m)
FCF 66.024m
Explanatory Notes To The Interim Report – 30 September 2011
B. BMSB Listing Requirements (Part A of Appendix 9B)
B1. Review of performance
The Group registered a total revenue of RM852.7 million for period ended 30 September 2011 compared with RM515.6 million reported in the corresponding period in year 2010. The increase of RM337.1 million in revenue was mainly attributed to the higher average Crude Palm Oil (CPO) and Palm Kernel (PK) prices realized and sales volume during the period. The sales volume for CPO and PK increased by 47,183 mt or 28% and 10,549 mt or 31% respectively compared to previous year corresponding period.
In line with the increase in total revenue, the Group registered a profit before tax for the period of RM297.7 million. This represents an increase of 95.1% or RM145.1 million compared to RM152.6 million achieved during the corresponding period in year 2010.
B2. Material changes in profit before taxation for the quarter as compared with the immediate
preceding quarter
For the quarter under review, the Group registered a lower profit before tax of RM103.8 million compared to RM112.6 million in the previous quarter due to softening of the CPO and PK prices realized, despite an increase of volume of CPO sold by 20,032 mt or 28%.
The average selling price of CPO and PK realized for the current quarter were RM3,166 and RM2,034 per mt respectively.
B3. Prospects for the current financial year
The performance of the Group is largely dependent on developments in the world edible oil market, bio-diesel market, fossil oil market, movement of Ringgit Malaysia, world economic situation and their corresponding effect on CPO price.
B9. Borrowing and debt securities
30 September 2011
RM’000
Current
Secured 20,791
Unsecured 9,964
Non-current
Secured 336,314
Unsecured 5,084
Total 372,153
The above borrowings are denominated in Ringgit Malaysia.
Basic earnings per share
The calculation of basic earnings per share for the quarter is based on the profit attributable to equity holders of the parent of RM75.1 million and on the weighted average number of ordinary shares of RM1 each in issue during the period of 433,777,699.
Diluted earnings per share
The diluted earning per share for the quarter is based on the profit attributable to equity holders of the parent of RM75.1 million and on the weighted average number of ordinary shares of RM1 each in issue during the period of 440,911,509.
Market price MR 4.66 (25.11.2011)
Market capitalisation 440.911509m x MR 4.66 = 2,054.65m
Company Name | : | SARAWAK OIL PALMS BERHAD |
Stock Name | : | SOP |
Date Announced | : | 25/11/2011 |
Financial Year End | : | 31/12/2011 |
Quarter | : | 3 |
Quarterly report for the financial period ended | : | 30/09/2011 |
The figures | : | have not been audited |
Converted attachment : |
Please attach the full Quarterly Report here: |
Currency | : | Malaysian Ringgit (MYR) |
SUMMARY OF KEY FINANCIAL INFORMATION |
30/09/2011 |
INDIVIDUAL PERIOD | CUMULATIVE PERIOD | ||||
CURRENT YEAR QUARTER | PRECEDING YEAR CORRESPONDING QUARTER | CURRENT YEAR TO DATE | PRECEDING YEAR CORRESPONDING PERIOD | ||
$$'000 | $$'000 | $$'000 | $$'000 | ||
1 | Revenue | 326,055 | 213,000 | 852,724 | 515,568 |
2 | Profit/(loss) before tax | 103,780 | 73,159 | 297,728 | 152,625 |
3 | Profit/(loss) for the period | 82,266 | 54,633 | 220,269 | 112,058 |
4 | Profit/(loss) attributable to ordinary equity holders of the parent | 75,136 | 49,405 | 199,626 | 102,771 |
5 | Basic earnings/(loss) per share (Subunit) | 17.32 | 11.46 | 46.17 | 23.91 |
6 | Proposed/Declared dividend per share (Subunit) | 0.00 | 0.00 | 0.00 | 0.00 |
AS AT END OF CURRENT QUARTER | AS AT PRECEDING FINANCIAL YEAR END | ||||
7 | Net assets per share attributable to ordinary equity holders of the parent ($$) | 2.6900 | 2.2600 |
Remarks :
|
Announcement Date | Financial Yr. End | Qtr | Period End | Revenue RM '000 | Profit/Lost RM'000 | EPS | Amended | ||||||
25-Nov-11 | 31-Dec-11 | 3 | 30-Sep-11 | 326,055 | 82,266 | 17.32 | - | ||||||
26-Aug-11 | 31-Dec-11 | 2 | 30-Jun-11 | 288,185 | 76,892 | 15.92 | - | ||||||
12-May-11 | 31-Dec-11 | 1 | 31-Mar-11 | 238,484 | 61,111 | 12.84 | - | ||||||
25-Feb-11 | 31-Dec-10 | 4 | 31-Dec-10 | 209,784 | 48,946 | 10.63 | - |
ttm-EPS 56.71 sen
Price $ 4.56
Trailing PE 8.04x
|
23-11-2011
Price RM 4.50
PE 8.72x
DY 0.89%
Market Cap RM 1,953.7m
ROE 21%
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