Brief thoughts on a few FY12 results

Supply Network Limited (ASX:SNL) A strong result was posted with revenue and profit up 20.3% and 57.8% respective. NPAT coming in at $3.95m or 11.58cps and the annual dividend is up 40% to 7cps. As mentioned previously, the major strength for this truck and bus parts company is its management. The ability to plan and execute medium to long term strategies and deliver for shareholders. Management has once again delivered in spades. A new three...

Too cheap to ignore?

Which company: Recently posted 38% yoy revenue growth and a record profit result Has a good ROE of 20%, decent balance sheet and good cashflows With a record order book of $300m+, over 50% larger than this time last year "The company expects the 2013 financial year to continue to provide a platform for growth in all aspects of the business." EPS 8.55c with a P/E ~4.7, dividend close to 7% fully franked. It's Brierty...

Energy Action (ASX:EAX) delivers a solid result

Energy management company Energy Action (ASX:EAX) today posted FY12 results that were slightly ahead of those laid out in the IPO prospectus. Revenue up 23.8% to $17.37m NPAT excluding listing costs up 35.48% to $3.97m Diluted EPS with above figure: 15.84cps Full year 7.2c fully franked dividend Its ~$4m Ward acquisition, expansion into WA and $65m in forward contracts (up 20% on last year) bodes for further growth in FY13. At a trailing P/E of...

Credit Corp Group FY12 Full Year Results

Credit Corp Group (ASX:CCP) reported FY12 full year results today. There were no surprises with the results coming in within the guidance range provided during the half yearly. The important numbers are as follows: Ledger acquisitions down 1% year-on-year to $91.5m ($84 - $88m company guidance) Ledger collections and fees up 12.3% to $230.4m Revenue up 10% to 124.6m Adjusted EBITDA up 15.3% to $149.7m NPAT up 26% to $26.6m ($26 - $27m guidance) EPS...

'Tis the season for guidance updates

Companies are readying their annual reports at the moment and guidance updates are hitting the market. A couple came through just today... Structural Systems Limited (ASX:STS) FY12 NPAT is forecast to be in the range of $7.6 to $8.0m. This includes an after tax loss of $1.855m for the Eastern Treatment Plant project. Revenue $275m+, up $40m year-on-year. Weaker second half due to "prolonged inclement weather" and lower utilisation of ROCK's drilling fleet. Work in...

I'm now on WordPress.com

I've moved the blog from Posterous to Wordpress.com. It looks a bit different, but everything else pretty much remains the same. If you're an existing RSS subscriber, you may need to update the feed address. I'm a huge fan of Posterous. But I've been uncertain about its future plans after Twitter acquired the company. I thought I'd jump, rather than wait and be pushed. Here's to many more value investing posts on WordPress!

Cashflows don't lie

The importance of the cashflow statement cannot be overstated. While the income report is highly flexible, the cashflow statement is rigid. Cash comes in, cash goes out; here's the bank balance at the end. The cashflow statement is the most honest and trustworthy part of the financial report and an investor's best friend. While Thorn Group (ASX:TGA), a rental/finance company in the consumer and small commercial space, has been on my watchlist for quite a...

Ground is shifting beneath payday lenders

Changes to government legislation can make big ripples through affected industries. Cash Converters (ASX:CCV) and the proposed pay-day loan legislation changes is no different. Recently I took a look at the proposed changes and the potential impacts. The main points regarding regarding the legislation changes is as follows: A draft of new pay-day laws was written late last year. It proposed fee caps comprising a 10% establishment fee and a 2% monthly fee. Senate committee...

Bowing out

Forge Group (ASX:FGE) founding directors exercised their $5.60 put options yesterday - delivering Clough (ASX:CLO) 3.25m additional shares. I had mentioned this upcoming decision previously. The move effectively reduces the founders' personal holdings to very little and paves the way for their planned exit from the company. Not being privy to internal conversations, it's difficult to work out why the options were exercised more than a month before expiry. My speculative take is Clough has...

A few for the watchlist

After a busy interim reporting season, I've decided to put down a few companies that have caught my attention during this period. A few of these companies have had comprehensive articles written, so I'm not going to be writing about things that have already been well covered. Below is a quick summary, with more comprehensive followups likely in the future. Delta SBD (ASX:DSB) Mining services company that specialises in underground coal mines in NSW and...