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OtTo MaRiNe
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bsiong
Supreme |
18-Feb-2011 09:46
Yells: "The Greatest Wealth is Health" |
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Otto Marine posts 22% fall in full-year net profit to $40.7mOtto Marine says group revenue increased by over 36% to $579.9 million for FY2010. However, net profit attributable to shareholders (PATMI) was down 22% to $40.7 million because of a net foreign exchange loss of $22.4 million and reversal of $23.6 million in profits recognised for the terminated sale contracts for vessels sold to a customer and an associate. |
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francisd
Veteran |
17-Feb-2011 17:10
Yells: "BUY LOW SELL HIGH" |
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Full year results tomorrow morn. before the market open. Cheers. |
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bsiong
Supreme |
02-Feb-2011 12:47
Yells: "The Greatest Wealth is Health" |
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Otto Marine – Update (Alfred Low) Recommendation: Hold Previous close: S$0.325 Fair value: S$0.38
//ps//// |
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bryansng
Senior |
09-Jan-2011 23:53
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Seems like a falling wedge for OTT.MAR and ending off with a rounding bottom. Wat you guys think?
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bsiong
Supreme |
17-Nov-2010 01:24
Yells: "The Greatest Wealth is Health" |
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Phillip Securities Research Pte Ltd Singapore 15 Nov 2010 Otto Marine – Results (Alfred Low) Recommendation: Hold Previous close: S$0.36 Fair value: S$0.38
· 3Q10 revenue of S$80.3m, gross profit of S$7.2m, net profit of S$8.7m · Net profit increased mainly because of the forfeiture of deposit of S$4.7m and higher profit from two of its associates · Maintain hold and reduce fair value from S$0.40 to S$0.38 |
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pehtrick
Member |
16-Nov-2010 17:08
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bought back at 345 again...
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enghou
Senior |
16-Nov-2010 16:44
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Otto Marine Ltd 3Q10 Results Cancellation risks already priced in Otto Marine’s 3Q10 net profit of $8.7m was below our and consensus expectations due to slower revenue recognition for shipbuilding orders. But we were encouraged by the strong performance from its two associates, which partially mitigated the earnings shortfall. Reiterate BUY with a lower SOTP target price of $0.46. Our View Shipbuilding revenue fell by 25.8% yoy and 54.2% qoq to $50m in 3Q10. Management attributed the decline to equipment delays resulting from customer‐initiated changes in ship design. Gross margin was negatively affected given the high overheads at its shipyard in Batam. In line with the steady recovery of the seismic market, Otto’s geophysical segment posted its third consecutive quarter of turnover growth. However, we note that gross margin narrowed to only 4.6% in 3Q10 as the group incurred certain mobilisation expenses due to redeployment of its vessels in the designated areas. Following global settlement with GC Rieber on claims relating to their JV, Polar Marine II Pte Ltd., Otto has sold one of the three 3,200 dwt PSVs (Hull No. 7038) for £24.1m. We believe it may also sell another vessel (Hull No. 7049) in the near term. The quick turnaround sale should help to improve Otto’s liquidity position, thus alleviating concerns over its weak operating cashflow. Action & Recommendation We have tweaked our FY10F‐12F EPS to factor in the $6‐7m provision for potential cancellation of the second Mosvold vessel, and the assumption that the first cancelled vessel (Hull No. 7047) can be successfully sold and the second 21,000bhp AHTS (Hull No. 7048) would join Otto’s charter fleet. Accordingly, our SOTP target price is reduced to $0.46, from $0.58, which still implies about 28% upside. Maintain BUY.
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pehtrick
Member |
16-Nov-2010 13:33
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didn't manage to sell at high so just tiny profits...
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pehtrick
Member |
16-Nov-2010 13:19
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Sold mine few days back.. waiting to buy back at lower...
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sarsar
Senior |
16-Nov-2010 12:21
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Dead again... zzzz | ||||
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pehtrick
Member |
11-Nov-2010 16:02
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bought another batch at 36... support seems to be getting stronger at 36... another 300 lots being taken at 365... seems to be taking off! results could be good...
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pehtrick
Member |
11-Nov-2010 11:03
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just hit 37 this morning... if results gd... may even break the wedge resistance of 38.... upside is higher than downside...
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pehtrick
Member |
11-Nov-2010 11:02
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This is starting to show some movements... results will be out tom morning...
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pehtrick
Member |
09-Nov-2010 17:09
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this is finally up... vested at 345 last week...
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hahalol
Member |
31-Oct-2010 00:17
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entry px 34 - 34.5cts 
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anfield_76
Member |
25-Oct-2010 13:41
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looking at what?! on what basis?!
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matias80sg
Member |
25-Oct-2010 11:32
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Watch out for Otto Marine within this week. Expected to reach 0.39. | ||||
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hawke009
Senior |
19-Oct-2010 20:33
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no. this is not the sign of accumulation. | ||||
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sarsar
Senior |
15-Oct-2010 12:30
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When price is up one bid, sell queue appears, when price is down one bid, buy queue appears... is this call the accumulation act? Thanks. |
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kiasiDBT
Veteran |
29-Sep-2010 09:23
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Written by The Edge Tuesday, 28 September 2010 14:08 Otto Marine unit secures $12m contract to perform 3D seismic data acquisition in Trinidad
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