Oh Titan
Tuesday, February 13, 2007
Titan just released its quarterly earnings. Here's a news report posted on Titan's earnings:
- Titan's net profit up 142% to RM773m
By Joyce Goh
Titan Chemicals Corp Bhd's net profit rose 142% to RM773.18 million for the year ended Dec 31, 2006 from RM319.4 million a year earlier, on improvement of naptha and polymer margins.
In addition, the excess of the group’s interest in the net fair value of acquired company Chemical Brothers Ltd was also recognised, raising after-tax profit by RM340.9 million, the company said on Feb 13.
Revenue for the year just ended was RM5.45 billion, up 21.11% from the RM4.5 billion achieved in 2005.
Titan noted that the rise in the average selling price and sales volume by 14% and 17% respectively had contributed to the growth in sales revenue, driven by continued strong market fundamentals.
For the fourth quarter ended Dec 31, 2006, Titan's net profit soared to RM241.12 million from RM12.01 million during the same period last year. Revenue was RM1.53 billion from RM1.15 billion.
Titan expects its performance for the first quarter of 2007 to be satisfactory with the demand for polymer products continuing to be strong and the margin for the business expected to remain stable.
Titan has recommended a final tax-exempt dividend of 4.5 sen per share for the year ended Dec 31, 2006.
So good?
- Titan Chemicals Corp Bhd's net profit rose 142% to RM773.18 million for the year ended Dec 31, 2006
Quarterly rpt on consolidated results for the financial period ended 31/12/2006
Ok, what does the investor get from a company that just made RM773 million?
Well, the loans decreased.
Total loans is at 1,544,626 versus 1,643,010.
Bravo!
Much improvement.
But take a look at the cash flow... look at the very end balance...
Cash and cash equivalent at end of the period is only 16.925 million?
So much did Titan made?
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