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Delfi H2 net profit down 14.1% special dividend proposed on rising confidence, strong net sales
CHOCOLATE confectionery company Delfi : P34 -1.9% on Tuesday (Feb 27) posted a net profit of US$21.1 million for the six months ended Dec 31, 2023, marking a 14.1 per cent decrease from the US$24.5 million booked for the corresponding year-ago period.
This came despite a 9 per cent increase in revenue, to US$255.2 million from US$234.0 million in H2 FY2022.
Earnings per share stood at 3.44 US cents, a decrease from the 4.01 US cents recorded in the same period a year earlier.
For the full financial year, revenue increased by 12.7 per cent, to US$538.2 million from US$477.5 million in FY2022, while net profit rose to US$46.3 million, up 5.4 percent from US$43.9 million the year before.
The increase in revenue was attributed to the robust net sales of Delfi&rsquo s own brands and agency brands across the Indonesia and regional markets, with year-on-year sales growth of 9.9 per cent and 16.7 per cent, respectively, for FY2023.
For its own-brands portfolio, growth was driven by the group&rsquo s operations in Indonesia and the Philippines for agency brands, growth continued to be driven by the snacking category, it noted.
With confidence in the business&rsquo performance, the directors are proposing a final dividend of 1.74 US cents and a special dividend of 0.52 US cents per share.
Subject to the approval of shareholders at the group&rsquo s annual general meeting on Apr 23, both dividends are expected to be payable on May 15.
John Chuang, chief executive of Delfi, said: &ldquo While year-on-year top- and bottom-line growth slowed in FY2023 as compared to FY2022, it is important to note that although the group&rsquo s performance occurred in a more challenging environment, we were still able to drive our efforts in product innovation and the development of our premium and value categories.&rdquo
The group said it remains cautious due to ongoing uncertainties in the global economy and geopolitical landscapes. These factors &ldquo have caused a strain on specific supply chains and sent commodity prices, especially cocoa, soaring&rdquo , it added.
Buying support quite low, looks like closing to 90 possible. Best to stay out.
Gap 0.93 - 0.965 , wl this be covered ?
they call it close the gap....guess where? below 80cts then talk
High cocoa price causes concern on future outlook, though goodies such as speial dividend declared. Hopefully share price stabilizes soon.
First half result is better than that of second half . Final dividend is Sd3.02 cents .
Delfi&rsquo s PATMI up 5.4% to US$46.3 million as sales rises 12.7% to US$538.2 million in FY2023
Healthy full year performance boosted by strong net sales of Own Brands and Agency Brands across Indonesia and Regional Markets, reaching a record level1.
Proposes final dividend of 1.74 US cents and a special dividend of 0.52 US cents per ordinary share, which together with the interim dividend of 2.06 US cents, brings total dividend in respect of FY2023 to 4.32 US cents per ordinary share.
https://links.sgx.com/1.0.0/corporate-announcements/CPZHM7SOO160FXMA/60f20b4ebe1e54244278556d53b7878828e8c9657f251a103247dfaacd2e74ae
Healthy full year performance boosted by strong net sales of Own Brands and Agency Brands across Indonesia and Regional Markets, reaching a record level1.
Proposes final dividend of 1.74 US cents and a special dividend of 0.52 US cents per ordinary share, which together with the interim dividend of 2.06 US cents, brings total dividend in respect of FY2023 to 4.32 US cents per ordinary share.
https://links.sgx.com/1.0.0/corporate-announcements/CPZHM7SOO160FXMA/60f20b4ebe1e54244278556d53b7878828e8c9657f251a103247dfaacd2e74ae
Cocoa price is abv $6.5k and historical high
Fwd guidance maynot be rosy taking cue
fm Hershey profit warning
Fwd guidance maynot be rosy taking cue
fm Hershey profit warning
msksmsks ( Date: 04-Feb-2024 20:29) Posted:
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Trend line is down....tough.
This qtr result will seal its fate.
Loaded some @1.03 for the dividend .
Dividend should be not less than 2.8c
I already said before, don't rely on UOB trade recommendations. The probability of them getting it right is as good as yours or ....w
Just a recap 6 months afterwards. Cheers.
chiachiawee ( Date: 15-Aug-2023 10:30) Posted:
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Jialat.
msksmsks ( Date: 15-Feb-2024 09:35) Posted:
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black valentine, not sweet this year
Doesn' t looked good fm the price actions
If broke the last low of $1.03, maybe in jeopardy of going twds $1
or below where there is a gap yet to be covered.
If broke the last low of $1.03, maybe in jeopardy of going twds $1
or below where there is a gap yet to be covered.
Juz be careful . Delfi may face similar issues
Hershey announces job cuts, issues profit warning
https://finance.yahoo.com/video/hershey-announces-job-cuts-issues-190748436.html?fr=sycsrp_catchallChocolate maker Hershey issues warning over record cocoa prices
https://www.theguardian.com/food/2024/feb/09/chocolate-maker-hershey-issues-warning-over-record-cocoa-prices
Technical Analysis:
Delfi (DELFI SP) - Trading BUY
Wilmar International (WIL SP) - Trading SELL
Delfi (DELFI SP) - Trading BUY
Wilmar International (WIL SP) - Trading SELL
In comparison with Food Empire, this Delfi is really
underperforming.....
Used to move in tandem ....now like diverging on separate ways
When u wl do a strong reversal or spiral downwards ?
underperforming.....
Used to move in tandem ....now like diverging on separate ways
When u wl do a strong reversal or spiral downwards ?