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Stock With Momentum: SYF Resources

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Stock With Momentum: SYF Resources

Post by Cals Tue 22 Dec 2015, 22:46

Stock With Momentum: SYF Resources

By Asia Analytica / The Edge Financial Daily | December 22, 2015 : 10:32 AM MYT

This article first appeared in The Edge Financial Daily, on December 22, 2015.

[size=16]SYF Resources Bhd ([You must be registered and logged in to see this image.] Valuation: 1.10, Fundamental: 1.10) (-ve)
WOOD furniture and board manufacturer cum property developer SYF (Fundamental: 1.1/3, Valuation: 1.1/3) has gained 6.1% to a 1-year high of 61 sen since announcing its 1QFYJul2016 results last Wednesday.
For 1QFY2016, revenue surged 58.1% y-y to RM94.9 million while net profit jumped 110.2% to RM10.8 million. This was mainly due to higher property sales and, to a lesser extent, rubberwood furniture exports.
In FY2015, furniture and board segments accounted for 71% of its revenue with the balance from property development projects in Sungai Long and Semenyih. In terms of earnings, furniture and property development each contributed roughly half of its FY2015 net profits.
According to The Edge Financial Daily, the company expects to achieve a double-digit growth in FY2016 and may introduce a dividend payout policy in FY2017. SYF expects to launch a RM160 million joint venture residential development in Sungai Long and its second board manufacturing plant to commence operations in FY2016.
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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
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Comments : â€œMy plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
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