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November 7th, 2009 |
2 responses (HKEx: 0684) November 7: Allan International Holdings Ltd
Business Review – Expectation for increase in half-year dividend payment for period to 31st September 2009
After an incredible performance by management, end of year results for the year ending 31 March 2009 profit was up 65% (HK$64,872,000 to HK$106,938,000), cash on-hand doubled (HK$163,221,000 to HK$335,164,000) and debt almost halved ($33,194,000 to HK$19,755,000).
The annual dividend increased from 10 cents to 14 cents per share, up 40%. Historically management has been very generous in its sharing of company profits with shareholders. In 2007/8 the interim dividend was 4 cents with final dividend 6 cents while 2008/9 interim was 2 cents and final 12 cents.
Management has a tendency to adjust dividend payment according to cash flow requirements and profitability. With cash on hand doubling to HK$335,164,000 and profit up 65% to HK$106,938,000 the company has a cash hoard that makes it the envy of all listed companies on the Hong Kong Stock Exchange. The expected dividend will be influenced by a combination of the historical ratio of interim to final dividend, cash on hand, net profit and future investment requirements. We expect the interim dividend will be 6 or 8 cents, when added to the most recent final dividend of 12 cents it will total either 18 or 20 cents. With a share price of 1.72 that is a return of 10.46% or 11.62% on the current share price of 1.72.
In these uncertain times we suggest that Allan International Holdings Ltd is a safe port in a storm with its affordability evidenced by a P/E ratio of 5.4, world-class management and consistently large dividend payments.
Marcus Maher
Chief Business Analyst – China
Note: Marcus Maher currently own shares in Allan International Holdings Ltd
Remarks : Due to reporting and updating time-lag, readers and users should exercise caution when using the data presented in this analysis. Please see the Disclaimer and the Important Notes.
Business Review – Expectation for increase in half-year dividend payment for period to 31st September 2009
After an incredible performance by management, end of year results for the year ending 31 March 2009 profit was up 65% (HK$64,872,000 to HK$106,938,000), cash on-hand doubled (HK$163,221,000 to HK$335,164,000) and debt almost halved ($33,194,000 to HK$19,755,000).
The annual dividend increased from 10 cents to 14 cents per share, up 40%. Historically management has been very generous in its sharing of company profits with shareholders. In 2007/8 the interim dividend was 4 cents with final dividend 6 cents while 2008/9 interim was 2 cents and final 12 cents.
Management has a tendency to adjust dividend payment according to cash flow requirements and profitability. With cash on hand doubling to HK$335,164,000 and profit up 65% to HK$106,938,000 the company has a cash hoard that makes it the envy of all listed companies on the Hong Kong Stock Exchange. The expected dividend will be influenced by a combination of the historical ratio of interim to final dividend, cash on hand, net profit and future investment requirements. We expect the interim dividend will be 6 or 8 cents, when added to the most recent final dividend of 12 cents it will total either 18 or 20 cents. With a share price of 1.72 that is a return of 10.46% or 11.62% on the current share price of 1.72.
In these uncertain times we suggest that Allan International Holdings Ltd is a safe port in a storm with its affordability evidenced by a P/E ratio of 5.4, world-class management and consistently large dividend payments.
Marcus Maher
Chief Business Analyst – China
Note: Marcus Maher currently owns shares in Allan International Holdings Ltd
Remarks : Due to reporting and updating time-lag, readers and users should exercise caution when using the data presented in this analysis. Please see the Disclaimer and the Terms of Service.
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