Research Centre
Free access to research reports covering macro economy, market, sectors or individual stocks |
 |
|
 |
|
| Title |
Lam Son Sugar report |
| Source |
| SBSC |
 |
|
| Type |
Update Report |
| Business |
Lam Son Suger Joint Stock Corporation |
| Ticker |
LSS |
| File Detail |
| Date: 03/04/2012 |
Page: 8 |
File Type |
 |
|
|
| |
| Description |
Estimating FY12 earnings of VND365 bn (-12% y-o-y). We assume that LSS will deliver 112,000 tonnes of sugar at ASP of VND16,300/kg, boosting production sales to VND1,998 bn (+27% y-o-y) and thus total sales to VND2,462 bn (+21% y-o-y). The core-business should be able to provide VND514 bn using a profit margin of 21%. With a net loss of VND 24 bn from financial activities, its NPAT is estimated at about VND365 bn (-12% y-o-y). Excluding the unusual other profit of VND55 bn and a preferential tax cut of 30% exclusively for FY11, the estimated FY12 earning still showes a slight growth of 6%. |
|
|
|
| Recommend |
N/A |
|
|
|
|
| |
|
|
|
|
|
