A quick look at Hartalega (8.5.2010)
http://spreadsheets.google.com/pub?key=tT2IXHGPpvc86Obf9tr25aQ&output=html
Showing posts with label hartalega. Show all posts
Showing posts with label hartalega. Show all posts
Saturday 8 May 2010
Tuesday 27 April 2010
Comparative Analysis of Glove Companies
Comparative Analysis of Glove Companies
http://spreadsheets.google.com/pub?key=tiEBLAmYR0EJiE7ccJcc8bw&output=html
http://spreadsheets.google.com/pub?key=tiEBLAmYR0EJiE7ccJcc8bw&output=html
A quick look at Hartalega (26.4.2010)
Hartalega Holdings Bhd
Wright Quality Rating: CANN
A quick look at Hartalega (26.4.2010)
http://spreadsheets.google.com/pub?key=t1RgI9NIq_v_mXN5GGkePwA&output=html
Wright Quality Rating: CANN
A quick look at Hartalega (26.4.2010)
http://spreadsheets.google.com/pub?key=t1RgI9NIq_v_mXN5GGkePwA&output=html
Sunday 31 January 2010
Rubber glove companies enjoy pricing power and steadily rising sales
Judging from the capacity expansion by rubber glove companies, it appears that larger glove companies like Top Glove, Supermax and Sempermed (Thailand) have more moderate expansion plans as a percentage of existing capacity, while smaller ones like Latexx and Adventa have more aggressive expansion plans and are likely to show higher earnings growth in 2010.
An oversupply of rubber gloves is unlikely in 2010 but could be a worry in 2011 when more capacity comes onstream. Assuming that the 150 billion-a-year medical glove market grows by 8% a year, an additional capacity of 12 billion gloves will be required per year. Rubber glove companies have been able to pass on higher costs arising from rising latex prices, with Top Glove increasing prices again in January 2010.
Nevertheless, producers of nitrile gloves may now enjoy better margins as the cost advantage that latex gloves enjoy over nitrile gloves may have narrowed as latex prices have risen faster than nitrile prices. Ratings of Malaysian rubber glove companies are still cheaper than those of Ansell, SSL International and the Malaysian market.
The Edge
1.2.2010
By Choong Khuat Hock
Comments:
The whole glove industry is growing. Due to capacity expansion and their smaller sizes, the smaller glove companies are expected to show faster earnings growth than the bigger glove companies.
The industry business is still resilient. Profit margin is either maintained or improving. Glove companies are still able to pass the cost to the customers. How long will this last?
This industry is highly competitive. The business is driven by volume and price. When capacity to supply outstrips demand, those companies with durable competitive advantage are expected to survive. Those low cost producers will be the big winners and leaders. Those companies that automate their production with good quality control will probably be able to lower their costs per unit through increasing productivity. It is possible that those leveraging on low human labour costs now with no or few plans for increasing automation of the manufacturing processes, may eventually lose out to the former in the future both in terms of quality, productivity and costs.
An oversupply of rubber gloves is unlikely in 2010 but could be a worry in 2011 when more capacity comes onstream. Assuming that the 150 billion-a-year medical glove market grows by 8% a year, an additional capacity of 12 billion gloves will be required per year. Rubber glove companies have been able to pass on higher costs arising from rising latex prices, with Top Glove increasing prices again in January 2010.
Nevertheless, producers of nitrile gloves may now enjoy better margins as the cost advantage that latex gloves enjoy over nitrile gloves may have narrowed as latex prices have risen faster than nitrile prices. Ratings of Malaysian rubber glove companies are still cheaper than those of Ansell, SSL International and the Malaysian market.
The Edge
1.2.2010
By Choong Khuat Hock
Comments:
The whole glove industry is growing. Due to capacity expansion and their smaller sizes, the smaller glove companies are expected to show faster earnings growth than the bigger glove companies.
The industry business is still resilient. Profit margin is either maintained or improving. Glove companies are still able to pass the cost to the customers. How long will this last?
This industry is highly competitive. The business is driven by volume and price. When capacity to supply outstrips demand, those companies with durable competitive advantage are expected to survive. Those low cost producers will be the big winners and leaders. Those companies that automate their production with good quality control will probably be able to lower their costs per unit through increasing productivity. It is possible that those leveraging on low human labour costs now with no or few plans for increasing automation of the manufacturing processes, may eventually lose out to the former in the future both in terms of quality, productivity and costs.
Thursday 28 January 2010
Hartalega 3Q net profit up 67% to RM37m
Hartalega 3Q net profit up 67% to RM37m
Written by Joseph Chin
Thursday, 28 January 2010 18:44
KUALA LUMPUR: HARTALEGA HOLDINGS BHD []'s earnings rose 67% to RM37.2 million in the third quarter ended Dec 31, 2009 from RM22.23 million a year ago, boosted by higher demand for its gloves.
It said on Thursday, Jan 28 that revenue rose 24.8% to RM148.59 million from RM119.05 million. Earnings per share were 15.35 sen compared with 9.17 sen. It declared five sen dividend per share.
"The significant achievement in revenue and profit before tax is in line with the group's continuous expansion in production capacity, increase in demand and more efficient production process, higher premium nitrile gloves, lower synthetic and natural latex price and favourable exchange rate," it said.
Hartalega said demand for gloves surged substantially due to the outbreak of H1N1, resulted in tight supply for both synthetic and natural latex gloves.
"We have started to build another plant with 10 new advanced high capacity glove production lines in June 2009 and targeted to commission two of the production lines by end of the financial year.
"With continuous growth in demand for gloves from the healthcare and food sector, the group has a positive outlook," it said.
The group's products are sold to the health care industry. It said glove consumption was inelastic in the medical environment because the usage of glove is mandatory for disease control.
It added its nitrile synthetic glove was well accepted by the end users due to it high quality and elastic PROPERTIES [] that mimic that of a natural rubber glove.
"Our protein free and competitive priced nitrile glove has made it more affordable for the acute health care industry to continue switching from the natural rubber to our synthetic nitrile glove to avoid the protein allergy problem," it said.
From The Edge
Written by Joseph Chin
Thursday, 28 January 2010 18:44
KUALA LUMPUR: HARTALEGA HOLDINGS BHD []'s earnings rose 67% to RM37.2 million in the third quarter ended Dec 31, 2009 from RM22.23 million a year ago, boosted by higher demand for its gloves.
It said on Thursday, Jan 28 that revenue rose 24.8% to RM148.59 million from RM119.05 million. Earnings per share were 15.35 sen compared with 9.17 sen. It declared five sen dividend per share.
"The significant achievement in revenue and profit before tax is in line with the group's continuous expansion in production capacity, increase in demand and more efficient production process, higher premium nitrile gloves, lower synthetic and natural latex price and favourable exchange rate," it said.
Hartalega said demand for gloves surged substantially due to the outbreak of H1N1, resulted in tight supply for both synthetic and natural latex gloves.
"We have started to build another plant with 10 new advanced high capacity glove production lines in June 2009 and targeted to commission two of the production lines by end of the financial year.
"With continuous growth in demand for gloves from the healthcare and food sector, the group has a positive outlook," it said.
The group's products are sold to the health care industry. It said glove consumption was inelastic in the medical environment because the usage of glove is mandatory for disease control.
It added its nitrile synthetic glove was well accepted by the end users due to it high quality and elastic PROPERTIES [] that mimic that of a natural rubber glove.
"Our protein free and competitive priced nitrile glove has made it more affordable for the acute health care industry to continue switching from the natural rubber to our synthetic nitrile glove to avoid the protein allergy problem," it said.
From The Edge
Tuesday 26 January 2010
Maybank Research ups Hartalega’s earnings forecast
Maybank Research ups Hartalega’s earnings forecast
Written by Maybank Investment Research
Tuesday, 26 January 2010 10:00
KUALA LUMPUR: Maybank Investment Research has raised the earnings outlook for Hartalega by between 12% and 19% and lifted the target price to RM8.30.
It said on Tuesday, Jan 26 it expects 3QFY10 results are expected to again beat consensus forecasts. It has a Buy call on RM7.77.
“Strong earnings and margins should extend into FY11 before industry capacity catches up and restocking activities abate, potentially impacting ASP (average selling price) and margins in FY12.
“Nevertheless, we think that Hartalega, with its superior technical abilities, should be able to ride this out by raising operating efficiencies. Maintain Buy. Our new TP is DCF-derived,” it said.
Written by Maybank Investment Research
Tuesday, 26 January 2010 10:00
KUALA LUMPUR: Maybank Investment Research has raised the earnings outlook for Hartalega by between 12% and 19% and lifted the target price to RM8.30.
It said on Tuesday, Jan 26 it expects 3QFY10 results are expected to again beat consensus forecasts. It has a Buy call on RM7.77.
“Strong earnings and margins should extend into FY11 before industry capacity catches up and restocking activities abate, potentially impacting ASP (average selling price) and margins in FY12.
“Nevertheless, we think that Hartalega, with its superior technical abilities, should be able to ride this out by raising operating efficiencies. Maintain Buy. Our new TP is DCF-derived,” it said.
Hartalega gains as target price raised
Hartalega gains as target price raised
Published: 2010/01/26
Hartalega Holdings Bhd, a Malaysian rubber-glove maker, rose to a record after Maybank Investment Bank Bhd increased the share price forecast, saying fiscal third-quarter earnings due on January 28 will exceed consensus forecasts.
The stock gained 1.7 per cent to RM7.90 at 9:38 am local time, set for the highest level since it went public on April 17, 2008.
Maybank raised the target price for the stock to RM8.30 from RM6.50. -- Bloomberg
Published: 2010/01/26
Hartalega Holdings Bhd, a Malaysian rubber-glove maker, rose to a record after Maybank Investment Bank Bhd increased the share price forecast, saying fiscal third-quarter earnings due on January 28 will exceed consensus forecasts.
The stock gained 1.7 per cent to RM7.90 at 9:38 am local time, set for the highest level since it went public on April 17, 2008.
Maybank raised the target price for the stock to RM8.30 from RM6.50. -- Bloomberg
Friday 1 January 2010
Thursday 15 October 2009
Glove companies
Valuation
Supermax, Topglove and Kossan
http://spreadsheets.google.com/pub?key=tIzNTWdhdVSJ803HE80Xn8Q&output=html
Monday 17 August 2009
Hartalega
Hartalega
Price 5.20
latest qtr eps 10.88
annualised eps 4x 10.88 = 43.5
annualised PE = 12
Market cap = 1.3 billion
NAV 1.12
Date Announced : 12/08/2009
Type : Announcement
Subject : HARTALEGA HOLDINGS BERHAD ("HARTA and/or Company")
-Director's dealing in shares in HARTA during closed period pursuant to paragraph 14.08(c) of the Listing Requirements of Bursa Malaysia Securities Berhad
Contents : Pursuant to paragraph 14.08(c) of the Bursa Securities Listing Requirements, Encik Sannusi Bin Ngah, a Non-Independent Non-Executive Director of the Company has given a notification that he has disposed a total of 3,000,000 ordinary shares of RM0.50 each in HARTA, details of which are set out in the table below.
Price 5.20
latest qtr eps 10.88
annualised eps 4x 10.88 = 43.5
annualised PE = 12
Market cap = 1.3 billion
NAV 1.12
Date Announced : 12/08/2009
Type : Announcement
Subject : HARTALEGA HOLDINGS BERHAD ("HARTA and/or Company")
-Director's dealing in shares in HARTA during closed period pursuant to paragraph 14.08(c) of the Listing Requirements of Bursa Malaysia Securities Berhad
Contents : Pursuant to paragraph 14.08(c) of the Bursa Securities Listing Requirements, Encik Sannusi Bin Ngah, a Non-Independent Non-Executive Director of the Company has given a notification that he has disposed a total of 3,000,000 ordinary shares of RM0.50 each in HARTA, details of which are set out in the table below.
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