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Stock With Momentum: Oriental Food Industries
by Cals Sun 26 Jul 2015, 02:56
Stock With Momentum: Oriental Food Industries
Oriental Food Industries Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
OFI (Fundamental: 2.8/3, Valuation: 1.1/3) was first recommended by InsiderAsia on October 23, 2014.
Its share price has since risen by a whopping 125.3% to close at RM6.05 yesterday.
It has done well financially. For FYMar2015, sales rose 4.5% to RM237.0 million while net profit surged 37.2% to RM22.2 million, lifted by higher export sales and foreign exchange gain. Export accounted for 54.8% of its sales in FY2015.
Sentiment was also likely buoyed by its proposed 1-for-1 bonus issue and 2-for-1 share split — expected to be completed by 3Q2015.
Nevertheless, valuations have risen with trailing P/E now at 16.1 times. By comparison, peers London Biscuits ([You must be registered and logged in to see this image.]Financial Dashboard) and Apollo Food Holdings ([You must be registered and logged in to see this image.] Financial Dashboard) are trading at P/E of 10.9 times and 14.7 times, respectively.
To recap, OFI is a leading snack food and confectionery manufacturer, producing a wide range of snack food products including potato and corn chips, wafers and bakery products. Its notable brand names include Super Ring, Rota, Jacker and Oriental.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on July 24, 2015.
Oriental Food Industries Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)
OFI (Fundamental: 2.8/3, Valuation: 1.1/3) was first recommended by InsiderAsia on October 23, 2014.
Its share price has since risen by a whopping 125.3% to close at RM6.05 yesterday.
It has done well financially. For FYMar2015, sales rose 4.5% to RM237.0 million while net profit surged 37.2% to RM22.2 million, lifted by higher export sales and foreign exchange gain. Export accounted for 54.8% of its sales in FY2015.
Sentiment was also likely buoyed by its proposed 1-for-1 bonus issue and 2-for-1 share split — expected to be completed by 3Q2015.
Nevertheless, valuations have risen with trailing P/E now at 16.1 times. By comparison, peers London Biscuits ([You must be registered and logged in to see this image.]Financial Dashboard) and Apollo Food Holdings ([You must be registered and logged in to see this image.] Financial Dashboard) are trading at P/E of 10.9 times and 14.7 times, respectively.
To recap, OFI is a leading snack food and confectionery manufacturer, producing a wide range of snack food products including potato and corn chips, wafers and bakery products. Its notable brand names include Super Ring, Rota, Jacker and Oriental.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on July 24, 2015.
Cals- Administrator
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