Titan VIII

Saw this article posted on Business Times:

• Titan Q4 net profit surges 20-fold
  
  February 14 2007
  
  TITAN Chemicals Corp Bhd's fourth quarter net profit grew a whopping 20 times compared to a year ago, driven by improved average selling price and sales volume.
  Titan registered a net profit of RM241.1 million for the quarter to December 31 2006 compared with the same quarter in 2005's figure of RM12 million.
  
  Average selling price grew by 14 per cent, while sales volume grew by 17 per cent.
  
  Revenue also grew by 33 per cent to RM1.5 billion compared with RM1.1 billion a year ago.
  
  Titan said business and consumer confidence strengthened during the period and that improved its operating profit even amid the high global crude oil prices.
  
  Net profit for the full year ended December 31 2006 grew two folds to RM773.2 million compared to RM319.4 million in year 2005.
  
  The sharp rise was mostly due to contribution of RM340.9 million from Chemical Brothers Ltd, a newly acquired unit.
  
  Revenue for the full year was also higher at RM5.4 billion, up 21 per cent from before.
  
  Meanwhile, OSK Research yesterday upgraded its recommendation on the stock, to a buy, on strong improvement in yields due to falling crude oil prices and its capacity expansion kicking in, in 2008.
  
  OSK Research analyst Chris Eng said Titan is expected to report three quarters of good results with oil prices going down, major shareholder Perbadanan Nasional Bhd to stop paring down its stake and foreign interest in the Malaysian market to pare down the regional discount.
  
  He said Titan will report bottom line growth in 2008 due to its capacity expansion.
  
  Titan is adding new capacity to its polypropylene plant and also debottlenecking its crackers to produce more olefins.
  
  A new butadiene plant will also be in place to allow Titan to capture higher margins for its C4 products.
  
  Titan is expected to see strong growth in the financial year 2007's net profits as margins recover this year as compared to 2006.
  
  Titan beat the research company's net profit and revenue forecasts of RM246.2 million net profit against RM5.2 billion in revenue for the financial year ended December 31 2006.

Nice way to highlight Titan earnings.

20-fold increase in earnings.

I wonder if the stock would increase 20-fold too?

Blogged on this stock last night: Oh Titan