The company started off as a sole proprietorship in 1972, was incorporated in 1976 and was converted into a public limited company in 1997.
Company was fairly low profile and the operating results in past years was nothing much to short about. However in the last 2 years .. 2013 and 2014, there seem to be a dramatic change in the company. The company seem to have found a "new life" with it's revenue and profit improving quite dramatically. See figures below:
Revenue in mil
2011 - S$80.5
2012 - S$85.7
2013 - S$110.3
2014 - S$164.8
Profits after tax in mil
2011 - S$9.7
2012 - S$4.9
2013 - S$16.1
2014 - S$30.1
It appears that the Penguin today is different from the Penguin of yesteryears. Company seems to have found a new niche area which take the company to it's present level. Pls read it's annual report and other announcements for more details.
The company has no debts.
The company has a cash horde of S$37.4
The company has increased it's dividend to 1cts (final n special) from previous years of 0.5cts. This gives a dividend yield of close to 5% based on last done price of 20.5cts.
The 52 weeks high for the share is 28.5cts and low is 16.5cts.
(Vested)
Last edit: 9 years 7 months ago by josephyeo. Reason: adding in 1 word .. mil
Pls note that there maybe/maybe not "blips" in the company's bottomline in the next few quarters. Management did mention n I quote :
"Sobering sentiments in the offshore oil and gas industry are expected to temper demand for the Group's
crewboats and Fast Supply Intervention Vessels in sales and charters. However, demand for security
vessels (Flex Fighter) and passenger ferries (Flex Ferry), as well as ship repair services, is expected to be
less affected.
Notwithstanding market sentiments, the Group will continue its ongoing programme of developing niche
vessel designs targeted at profitable market segments."
Joseph, I agree completely with your assessment. The market has pushed down its price largely because of the dip in oil prices, but its business extends beyond the O&G industry. I've averaged down (rare nowadays) for this stock as its fundamentals are rock solid, IMO. It's worth the consideration of value investors. (vested)
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