Category: Popular Hldgs
Popular Holdings AR2012
AR 2012
Summary (Copied and Modified From VB Forum)
- Turnover is $567.3M, up 8.6%, profit before tax is $36.4M, up 15.7%.
- Key performing businesses were retail and distribution – turnover rose by $43.3M to $482M while profit before tax rose by $10M to $29.1M
- Operating cash flow is $51M. Cash on hand = $145.9M ; Net Cash (of Debts) = $115M.
- Net asset value per share is 25.09 cents.
- Has 148 outlets, 9 more than in FY12. 63 outlets in Singapore (+1), 70 in Malaysia (+5) and 15 in Hong Kong (+3).
- Publishing and e-learning business were flat.
- Popular Land’s revenue is $29.6M, up $1.8M form last FY. Excluding impairment loss reversed in the last FY, profit before tax increased by $2.8M to $3.7M.
- Has gone into book Café business –{ prologue } at ION Orchard has started the first book café Epilogue. Another Epilogue café was recently launched in Orchard Central.
- Started a new business, Office Solutions, to supply office products to the corporate world, estimated to be worth S$400 million annually. Hopeful that this segment will synergise with stationery retail business.
- Has ‘Creative Learning Package” – Coverage of 21 provinces, an addition of seven. Teacher training for pre-school teachers has trained more than 500 teachers since it started at the end of 2011.
- Total divided is 1.3 cents – 0.5 cents interim and 0.8 cents final. Yield is 5.5% at the last closing price of 23.5 cents.
- Biggest book retailer in Singapore, Malaysia and Hong Kong.
- Pan Lloyds continues to be the dominant supplementary book publisher in Hong Kong taking up about 30% of the market share.
- Ei8ht Raja, should be completed by early 2013 and ready for launch.
- Popular Club membership has exceeded 1.4 million. Card Subscriptions FY12 : $4.902M vs FY11 : $4.819M
In 2009, Popular made a non-cash impairment provision of $28.2M. $21.7M was reversed in FY2010 while $6.5M was reversed in FY2010. Removing the impairment provision and reversal, profit before tax for 2009, 2010, 2011 and 2012 would have been $9M, $18M, $25M and $36M
Operating & Financial Review
Group Turnover & PBT
Balance Sheet
Profit & Loss
Cash Flow
Segment
Top 20 Shareholders
Popular Holdings – FY12 (Apr) Results
All the data are extracted from the results (please counter-check in case of error),
|
|
FY08 |
FY09 |
FY10 |
FY11 |
Q112 |
Q212 |
Q312 |
Q412 |
FY12 |
|
Revenue |
434,995 |
450,317 |
514,648 |
522,440 |
141,633 |
118,593 |
166,453 |
140,573 |
567,252 |
|
Gross Profit |
66,635 |
64,236 |
74,699 |
83,342 |
26,919 |
18,922 |
33,598 |
22,705 |
102,144 |
|
Operating Profit |
16,511 |
-19,612 |
40,320 |
31,030 |
12,613 |
5,295 |
15,090 |
2,694 |
35,692 |
|
PBT |
16,689 |
-18,967 |
40,076 |
31,497 |
12,775 |
5507 |
15,192 |
2,953 |
36,427 |
|
Net Profit |
13,401 |
-17,509 |
31,200 |
23,830 |
10,237 |
4086 |
12,235 |
4,762 |
31,320 |
|
NPM |
3.08% |
NA |
6.06% |
4.56% |
7.23% |
3.45% |
7.35% |
3.39% |
5.52% |
|
Cash |
48,907 |
71,501 |
90,017 |
104,797 |
120,035 |
114,488 |
129,331 |
145,945 |
145,945 |
|
Properties (For Sale) |
– |
– |
– |
39,032 |
23,320 |
20,400 |
15,287 |
15,288 |
15,288 |
|
Development Properties |
84,450 |
76,561 |
82,507 |
37,526 |
38,659 |
40,082 |
64,270 |
67,135 |
67,135 |
|
Loan – CL |
16,400 |
50,408 |
11,156 |
5,008 |
779 |
759 |
764 |
14,431 |
14,431 |
|
Loan – NCL |
53,073 |
17,104 |
17,013 |
14,307 |
14,799 |
15,284 |
28,978 |
17,563 |
17,563 |
|
NAV (ct) |
30.13 |
20.74 |
21.45 |
22.68 |
23.66 |
23.69 |
24.73 |
25.09 |
25.09 |
|
EPS (ct) |
2.99 |
-3.53 |
4.53 |
2.83 |
1.22 |
0.48 |
1.44 |
3.70 |
3.70 |
|
DPS (ct) |
0.5 + 0.7 |
0.5 + 0.2 |
(0.5 + 0.5) + 0.2 |
0.4 + 0.6 |
– |
0.5 |
– |
0.8 |
0.5 + 0.8 |
|
Remarks |
– |
Jan-09 : Rights Issue ($19.7M) 1-for-2 @ $0.10 |
Feb-10 : Rights Issue ($25.333M) 3-for-10 @ $0.13 |
– |
– |
– |
– |
– |
– |
Notes :
- All figures in S$’000 unless otherwise stated
- FY is End-Apr
SEGMENTS – Geographical
|
|
Singapore |
Malaysia |
Greater China |
Others |
Turnover |
Outlets |
|
FY12 |
258,940 |
212,690 |
93,014 |
2,608 |
567,252 |
148 |
|
FY11 |
253,332 |
164,577 |
101,205 |
3,326 |
522,440 |
139 |
|
FY10 |
264,414 |
144,240 |
105,133 |
861 |
514,648 |
133 |
|
FY09 |
216,304 |
130,538 |
101,340 |
2,135 |
450,317 |
133 |
|
FY08 |
200,723 |
125,441 |
106,342 |
2,489 |
434,995 |
129 |
|
FY07 |
179,968 |
107,650 |
109,288 |
1,329 |
396,235 |
117 |
SEGMENTS – Business
|
|
|
Retail & Distribution |
Publishing / e-Learning |
Property Development |
Corporate |
Eliminations |
Consolidated |
|
2012 |
Margin |
6.04% |
10.11% |
12.44% |
24.24% |
6.42% |
|
|
Revenue |
482,321 |
72,054 |
29,577 |
11,964 |
-28,664 |
567,252 |
|
|
Ext |
367 |
16,333 |
29,577 |
||||
|
Inter-Segment |
481,954 |
55,721 |
11,964 |
-28,664 |
|||
|
P/L (Ops) |
29,132 |
7,283 |
3,680 |
2,900 |
36,427 |
||
|
2011 |
Margin |
4.36% |
14.03% |
26.63% |
27.63% |
6.03% |
|
|
Revenue |
438,788 |
68,977 |
27,772 |
13,292 |
-26,389 |
522,440 |
|
|
Ext |
438,624 |
56,044 |
27,772 |
||||
|
Inter-Segment |
164 |
12,933 |
13,292 |
-26,389 |
|||
|
P/L (Ops) |
19,133 |
9,680 |
7,397 |
3,673 |
-8,386 |
31,497 |
|
|
2010 |
Margin |
2.61% |
11.55% |
68.99% |
-102.63% |
7.79% |
|
|
Revenue |
418,387 |
67,553 |
41,434 |
10,836 |
514,648 |
||
|
Ext |
418,201 |
55,013 |
41,434 |
-23,562 |
|||
|
Inter-Segment |
186 |
12,540 |
10,836 |
||||
|
P/L (Ops) |
10,925 |
7,799 |
28,586 |
-11,121 |
3,887 |
40,076 |
|
|
2009 |
Margin |
1.11% |
16.76% |
-4.36% |
|||
|
Revenue |
393,173 |
70,830 |
-13,686 |
450,317 |
|||
|
P/L (Ops) |
4,354 |
11,871 |
-29,165 |
-6,672 |
-19,612 |
||
|
2008 |
Margin |
2.91% |
24.05% |
3.80% |
|||
|
Revenue |
374,495 |
73,083 |
-12,583 |
434,995 |
|||
|
P/L (Ops) |
10,909 |
17,575 |
-798 |
-11,175 |
16,511 |
||
|
2007 |
Margin |
4.25% |
8.28% |
3.99% |
|||
|
Revenue |
332,494 |
76,990 |
-11,249 |
398,235 |
|||
|
P/L (Ops) |
14,116 |
6,375 |
-111 |
-4,479 |
15,901 |
||
|
2006 |
Margin |
4.03% |
12.12% |
5.73% |
|||
|
Revenue |
314,116 |
80,649 |
-10,978 |
383,787 |
|||
|
P/L (Ops) |
12,663 |
9,771 |
-462 |
21,972 |
|||
|
2005 |
Margin |
3.78% |
6.92% |
4.27% |
|||
|
Revenue |
299,005 |
71,234 |
-10,133 |
360,106 |
|||
|
P/L (Ops) |
11,293 |
4,929 |
-842 |
15,380 |
|||
|
2004 |
Margin |
4.01% |
13.00% |
5.59% |
|||
|
Revenue |
288,792 |
67,602 |
-8,963 |
347,431 |
|||
|
P/L (Ops) |
11,572 |
8,791 |
-935 |
19,428 |
|||
|
2003 |
Margin |
2.90% |
15.14% |
5.18% |
|||
|
Revenue |
269,932 |
66,573 |
-8,140 |
328,365 |
|||
|
P/L (Ops) |
7,816 |
10,078 |
-872 |
17,022 |
Popular Holdings
All the data are extracted from the results (please counter-check in case of error),
|
|
FY08 |
FY09 |
FY10 |
FY11 |
Q112 |
Q212 |
Q312 |
|
Revenue |
434,995 |
450,317 |
514,648 |
522,440 |
141,633 |
118,593 |
166,453 |
|
Gross Profit |
66,635 |
64,236 |
74,699 |
83,342 |
26,919 |
18,922 |
33,598 |
|
Operating Profit |
16,511 |
-19,612 |
40,320 |
31,030 |
12,613 |
5,295 |
15,090 |
|
PBT |
16,689 |
-18,967 |
40,076 |
31,497 |
12,775 |
5507 |
15,192 |
|
Net Profit |
13,401 |
-17,509 |
31,200 |
23,830 |
10,237 |
4086 |
12,235 |
|
NPM |
3.08% |
NA |
6.06% |
4.56% |
7.23% |
3.45% |
7.35% |
|
Cash |
48,907 |
71,501 |
90,017 |
104,797 |
120,035 |
114,488 |
129,331 |
|
Properties (For Sale) |
— |
— |
— |
39,032 |
23,320 |
20,400 |
15,287 |
|
Development Properties |
84,450 |
76,561 |
82,507 |
37,526 |
38,659 |
40,082 |
64,270 |
|
Loan – CL |
16,400 |
50,408 |
11,156 |
5,008 |
779 |
759 |
764 |
|
Loan – NCL |
53,073 |
17,104 |
17,013 |
14,307 |
14,799 |
15,284 |
28,978 |
|
NAV (ct) |
30.13 |
20.74 |
21.45 |
22.68 |
23.66 |
23.69 |
24.73 |
|
EPS (ct) |
2.99 |
-3.53 |
4.53 |
2.83 |
1.22 |
0.48 |
1.44 |
|
DPS (ct) |
0.5 + 0.7 |
0.5 + 0.2 |
(0.5 + 0.5) + 0.2 |
0.4 + 0.6 |
– |
0.5 |
– |
|
Remarks |
— |
Jan-09 : Rights Issue ($19.7M) 1-for-2 @ $0.10 |
Feb-10 : Rights Issue ($25.333M) 3-for-10 @ $0.13 |
— |
— |
— |
— |
Notes :
- All figures in S$'000 unless otherwise stated
- FY is End-Apr
