|
1H2017 |
1H2016 |
Change (%) |
|
|
Revenue |
1,206,291 |
519,365 |
132 |
|
Gross profit |
32,580 |
3,166 |
929 |
| Profit/(loss): | |||
|
-- Attributable to shareholders |
7,624 |
(1,086) |
N.M. |
|
-- Non-controlling interests |
610 |
- |
N.M. |
|
Profit/(loss) for the period |
8,234 |
(1,086) |
N.M. |
CEFC International, which is primarily engaged in the trading of petrochemical, fuel oil, and petroleum products, reported a sharp turnaround in profitability in 1H2017.
For 1H2017, net profit was US$8.23 million compared to net loss of US$1.09 million in 1H2016, mainly attributable to an increase in profitability of its trading business.
Net profit for 2Q 2017 was US$3.53 million as compared to net loss of US$0.33 million for 2Q 2016.
CEFC International’s 1H2017 revenue increased by 132% from US$519.37 million in 1H2016 to US$1,206.29 million.
Revenue in 2Q2017 rose to US$594.06 million from US$292.31 million, an increase by 103% quarter to quarter, with US$333.79 million of that resulting from its distribution segment.
The significant increase in revenue was primarily contributed by the subsidiaries acquired last year, chiefly Dyneff.
Dyneff is a leading independent fuel distributor headquartered in France, with business operations spread across both France and Spain.
Dyneff has been active in the fuel distribution sector for more than 50 years, with business operations covering three distribution channels: 100+ filling stations, a network of commercial agencies and two wholesale agencies.
Dyneff has also established logistics infrastructure in both France and Spain, with strategic storage capabilities at the main Mediterranean and Atlantic ports.
For CEFC's full financial statement, click here.
| 2017 - Star Pharmaceutical's star year? | ||||||||||||||||
| Star Pharmaceutical’s net profit for 1H2017 showed a jump of 555% from RMB800,000 to RMB5.2 million. With that, 2017 is set to be a turnaround year compared to 2016 when it earned RMB2.6 million and 2015, when it earned RMB6.0 million.
That's up from RMB17.6 million a year ago, due to strong operating cashflow as well as disposals of available-for-sale financial assets. In 1H2017, Star Pharmaceutical paid off RMB12 million in borrowings, and has zero debt currently. This S-chip looks to be a neglected stock: It has positive operating cashflow, is profitable and has a S$14 million cash balance that exceeds its market cap of only S$8 million (based on a recent stock price of 17.2 cents). On 21 March 2017, new executive director Wang Qi bought all of the 10.4 million shares (22.1% stake) from resigned executive director Gu Yan, for S$1.5 million. Thus, Wang Qi and the executive chairman Xu Zhi Bin control, in aggregate, 52.35% of the company. |
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