Straco -- gem?

Joes
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10 years 9 months ago #14982 by Joes

Replied by Joes on topic Straco -- gem?

The 2Q results will show the cash has gone up to .....$110 million pure cash? Keep a date.

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Rock
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10 years 8 months ago #15415 by Rock

Replied by Rock on topic Straco -- gem?

Straco Corporation Limited is a Singapore developer, operator and investor of premier attractions and tourism-related projects in China. Its businesses include the operation of Shanghai Ocean Aquarium, Underwater World Xiamen, The Lixing Cable-Car, and production of entertainment shows.

The company is highly free cash-flow generative and thus, it has paid consistently increasing dividends over the past six years. Last year, Straco paid a gross dividend of 0.75 cents per share and a special dividend of 0.5 cents per share, giving a total payout of 1.25 cents per share.

The company is valued at around 13 times earnings and its dividend yield is 2.5%, excluding the special dividend. The yield jumps to 4.2% if we the special dividend is included.

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Diversity
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10 years 8 months ago #15417 by Diversity

Replied by Diversity on topic Straco -- gem?

The bulk of profit comes from Shanghai Ocean Aquarium and Underwater World Xiamen. If these two attractions can accommodate more visitors, there is scope for higher profit.
Any idea on whether the two are already packed during peak periods?

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Rich
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10 years 8 months ago #15507 by Rich

Replied by Rich on topic Straco -- gem?

I have just checked and found that in past years, Straco has never given an interim dividend. Will it be different this time when the net cash pile has gone beyond S$100 million?

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Rich
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10 years 8 months ago - 10 years 8 months ago #15551 by Rich

Replied by Rich on topic Straco -- gem?

No interim dividend again. Shucks!

Looking past that I see another set of results with very strong free cashflows.

in 2Q net operating cashflow was about S$6m.
very minimal spending on investing, with only $210K for Property, Plant and Equipment.

add back the special dividend of S$4 m = S$10 m of free cashflow.

2H will be stronger, with 3Q as the peak period for Straco. Can expect >S$20 m in free cashflow for whole year of 2013.
Wooohooo!

Last edit: 10 years 8 months ago by Rich.

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Rock
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10 years 8 months ago #15552 by Rock

Replied by Rock on topic Straco -- gem?

Straco 2Q/1H 2013 - Good Result

2nd Quarter 2013 profit margin increased from 44% to 49%
1st Half 2013 profit margin increased from 35% to 49%

With profit margin increasing & last done at 30 cts and yield of over 4% is real bargain.

At 30 cts it is trading below 10 PE

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