Sino Grandness is an associate company of Thoresen Thai Agencies, as the latter owns a strategic stake.
After the release of 3Q results of Sino Grandness, TTA revealed its take on Sino Grandness' near-term earnings outlook.
"Sino Grandness contributed a profit of THB43.9 million to TTA, a slight reduction from the previous quarter due to increased advertising expense to expand the sales network, and as it focused more on building and increasing its own-branded product sales in domestic markets where it enjoys higher margins. Sino Grandness’ performance is expected to improve, and the company is expected to continue to make positive profit contribution to TTA in the next quarter."
If I remember correctly, the company is to pay out at least 10% of its earnings in dividends when it reports its FY15 full-yr results.
Annualising its 9m15 earnings one gets 61.3 rmb yuan per share = 13.6 sgd cents.
@ 10%, the dividend will be 1.36 sgd cents, or a yield of 4.1% assuming 33 cents share prx.
In SGD, the total will be $9.2 million, which Sino Grandness can afford to pay out from its cash balance of RMB320 m as at 30Sept2015.
All the hard work since end-2013 till now.... Sino Grandness looks ready to file for a listing of its Garden Fresh subsidiary. +4 cents now, to 38 cents.
Will 50 cents be reached post-CNY hols and post-EGM?