Buy @ $0.32
1H Results were out on 10-Nov, A summary,
- Interim Div = 0.7ct, increase from 0.5ct last year
- NAV = 34.16ct vs last Q 31.83ct (increase as expected due to KTIS but aro 0.3ct lower than my estimate)
- EPS = 0.21ct, lower than my expected 0.5xct fm Operations and much lower than my estimates which'd included the KTIS increase in fair value ($12.4mil, or 2ct+/share), which they stated in the Comprehensive Income and is not used for EPS computations
- They sold some KTIS shares for a gain = $126,750. My estimate is they sold aro 1.6mil shares (they have 116m+)
So, bad news is no Special Div (despite huge profits from KTIS and their having paid themselves good bonuses in Q1). Further, core biz EPS is much lower…
Good news is KTIS value is driving the increase in NAV and potential profits when sold. KTIS is currently aro 12THB vs 10THB IPO pice.