Saturday 26 November 2011

Sarawak Oil Palm

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


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:
SOPB BMSB 3rd quarter_2011.pdf




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
       
30/09/2011
30/09/2010
30/09/2011
30/09/2010
       
$$'000
$$'000
$$'000
$$'000
1Revenue
326,055
213,000
852,724
515,568
2Profit/(loss) before tax
103,780
73,159
297,728
152,625
3Profit/(loss) for the period
82,266
54,633
220,269
112,058
4Profit/(loss) attributable to ordinary equity holders of the parent
75,136
49,405
199,626
102,771
5Basic earnings/(loss) per share (Subunit)
17.32
11.46
46.17
23.91
6Proposed/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
7Net assets per share attributable to ordinary equity holders of the parent ($$)
2.6900
2.2600

Remarks :


Market Watch




Announcement
Date
Financial
Yr. End
QtrPeriod EndRevenue
RM '000
Profit/Lost
RM'000
EPSAmended
25-Nov-1131-Dec-11330-Sep-11326,05582,26617.32-
26-Aug-1131-Dec-11230-Jun-11288,18576,89215.92-
12-May-1131-Dec-11131-Mar-11238,48461,11112.84-
25-Feb-1131-Dec-10431-Dec-10209,78448,94610.63-

ttm-EPS 56.71 sen
Price $ 4.56
Trailing PE  8.04x



Share Price Performance
   High
Low
Prices 1 Month
4.700
  (24-Nov-11)
4.000
  (10-Nov-11)
Prices 3 Months4.700  (24-Nov-11)3.730  (26-Sep-11)
Prices 12 Months4.700  (24-Nov-11)3.200  (15-Mar-11)
Volume 12 Months26,819  (18-Nov-11)18  (14-Oct-11)


Stock Performance Chart for Sarawak Oil Palms Bhd


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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