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OLAM_OLAM
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FATABA
Supreme |
15-Nov-2013 09:52
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I guess the results tell the story...and the movement of its price cant be false. Going to a positive cash flow in such a short time ....is positive and the management is really sticking to its strategy ...Temasek would be disappointed as the largest share holders this year. :)) |
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Rosesyrup
Master |
15-Nov-2013 09:49
Yells: "Get your own opinion, don't follow blindly." |
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And any self-proclaimed full fledged analyst can't tell you the difference between NOL and Olam. Look on the bright side of life.whistle...whistle...whistle Seems like funds are looking on the positive side of OLAM reporting :)
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BornAgain
Veteran |
15-Nov-2013 09:24
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UPDATE 1-Olam books 5.7-pct rise in Q1 profits, boosts cash flow Fri Nov 15, 2013 1:24am IST 0 COMMENTS Link this Share this Digg Email Print STOCKS Olam International Ltd OLAM.SI $1.51 +0.01+1.00% 11/15/2013 (Adds details throughout) By Chris Prentice Nov 14 (Reuters) - Singapore's Olam International Ltd is on pace to generate positive cash flow and to weather commodities price volatility this year, the company said on Thursday as it reported a 5.7-percent rise in profits in the first quarter of fiscal 2014. Olam is looking to "expand selectively," the global commodities trading firm said in a statement after showing a big boost in cash flow following a strategy review announced last spring. The merchant booked a profit of S$45.6 million in the three months ended Sept. 30, compared with S$43.2 million in the year-ago quarter, as the company expanded "upstream and midstream" and in supply-chain activities. The merchant showed a marked turn-around in cash flow at the start of 2014, which reached to S$46 million, jumping from negative S$706.8 million a year ago. Olam said in April it would become free cash-flow positive by the end of June 2014, following scathing criticism from short-seller Muddy Waters of its business practices and debt levels. The firm recently offloaded an Australian cotton gin and has signed sale and lease-back deal for its Australian almond orchards. Even so, lower commodities prices and losses in the company's financial services and volatility trading units led the company's revenues to fall and offset growing volumes in the company's almond and cotton business. A "diversified portfolio" has left the company "well-placed to navigate the uncertainties and volatility in global commodities markets," said Olam's Managing Director and Chief Executive Officer Sunny Verghese in the statement. COFFEE, HEDGING UNITS DRAG Sales revenues dropped 7.9 percent to S$4.3 billion, and volumes fell 0.3 percent to 3.7 billion tonnes. Olam's financial services and risk management division posted a loss of S$8.3 million, on operating losses in the company's market-making and volatility trading unit. The unit has been restructured following the review, Olam said. Launched in 2003, it has a "sell-side approach" to exchange-traded business through Olam's broker/trader network, according to Olam's website. The company blamed a 27 percent drop in revenue in the company's confectionary and beverage ingredients unit on plunging coffee prices, which have set multi-year lows as global supplies surged. Olam's revenues got a boost from the almond business, which was a "strong contributor" to 29.9-percent growth in revenues and 8.7-percent growth in sales volumes, according to the statement. The cotton division also saw strong growth, helping boost volumes in Olam's industrial raw materials division by 4.8 percent. (Editing by Tim Dobbyn) | ||||
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gfmkim
Member |
15-Nov-2013 09:06
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DUMP YR TRASH! SO SHIOK!!! 
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gfmkim
Member |
15-Nov-2013 08:58
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Obfuscate
Senior |
15-Nov-2013 00:36
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Any half baked analyst can tell u the thinner a firm's equity the higher its ROE, ceteris paribus.
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beginners
Veteran |
14-Nov-2013 21:46
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Seems like got to see how the funds are going to play with this OLAM. It's hard to predict the direction. | ||||
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daffytlh
Veteran |
14-Nov-2013 20:30
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Wa."""""" see tom px how.somex for shares bad news px can still go up for strange reason.anyone rem what causes olam price to rocket in oct? I rem it went as high as 1.59 and1.60. | ||||
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Rosesyrup
Master |
14-Nov-2013 20:17
Yells: "Get your own opinion, don't follow blindly." |
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zzz....Don't give biased info please! High risk High return With higher leverage, Olam has got higher ROE too. > > > > > > Using leverage figure provided by you. Olam ROE=> 9.67===> > > > leverage 2.39X Noble=> 4.29 only==> > > > leverage 1.13X These two similar profit margin thus comparable. Don't know why you drag Wilmar and NOl in? Almost totally different business. Wilmar mainly on Palm oil processing, infact more of downstream, that why it can thrive in times of low CPO price while Golden agri is doing badly. WHAT?!!!! Pardon me...NOL?????? Why don't you just compare everyone with SIA? LOL 
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roostertan
Member |
14-Nov-2013 20:03
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Comparatively, Olam is riddened with heavy debt whereas NOL is not. Their excessive M& A has caused such debts to ballooned. And now starting selling off assets at a loss. It's a total mis-management affairs.
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Obfuscate
Senior |
14-Nov-2013 19:00
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Oops! Comparisons should be Wilmar 1.43x, Noble Group 1.13x and NOL 2.09x. My bad. | ||||
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Obfuscate
Senior |
14-Nov-2013 18:56
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EBITDA $249m then deduct net interest expense $137m, depreciation & amortisation $61m and tax $8m before arriving at net profit $43m. Bottom line, Olam is still working hard for its creditors. Total debt at Sep ($8.53 bn) as a multiple of today's mkt cap at close is 2.39x. Here are the comparisons for end Sep debt multiple of today's mkt cap: Wilmar 1.14x and Noble Group 0.90x. Even NOL is just 1.67x.
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Rosesyrup
Master |
14-Nov-2013 18:00
Yells: "Get your own opinion, don't follow blindly." |
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Relax. If you really really want to look at the profit figures only (without removal of accounting distortion). At the very very least, it dispel off MW's claim that it is too late for Olam. Wah we generate cash already leh.
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gfmkim
Member |
14-Nov-2013 17:53
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Rosesyrup
Master |
14-Nov-2013 17:43
Yells: "Get your own opinion, don't follow blindly." |
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Ok Forecast failed. Discouraging Points -Profit 3% hike only -Thanks to much lower other income -Non-cash fair value gain on biological asset is also a huge factor -Non cash depreciation increased. Encouraging Points -Cashflow start flowing in fromoperating activities as compared to huge cash deficit a year earlier. Should see much bigger cash inflow soon. -Started paying off debt and stopped borrowing -Removing the distortion from non cash biological asset gain, profit still grows by nearly 20%. -Depreciation should reduce as Olam continues operating lease strategy NVM I hold. |
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ynnek1267
Master |
14-Nov-2013 17:32
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Result out, kns!!!! | ||||
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WanSiTong
Supreme |
14-Nov-2013 17:30
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jj7007
Veteran |
14-Nov-2013 17:28
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out | ||||
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sharez
Member |
14-Nov-2013 17:28
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x 0 Alert Admin |
sell
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Rosesyrup
Master |
14-Nov-2013 17:24
Yells: "Get your own opinion, don't follow blindly." |
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Don't know leh, maybe sunny like to hold press conference first, treat the reports to some nice cakes and drinks first. Must 'increase' transparency. Afterall once bitten twice shy.
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