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Golden Agriculture: Stellar FY2010 results.

Monday, February 28, 2011

In my past blog posts on Golden Agriculture, I said that this company is the most leveraged to CPO price and the very strong CPO price in recent months naturally means higher profits for the company. Golden Agriculture reported stellar results for FY2010 today:

Year on year:

1. Revenue increased 53%.

2. Core net profit increased 91% (excluding gain from changes in fair value of biological assets, foreign exchange loss and exceptional items).

3. Net debt/equity ratio at 0.1x.

4. Dividend of 0.77c per share proposed.

5. NAV per share is US56c.

6. EPS is US12c.


See full presentation here.


The after market sell down of almost 10m shares at 65c is somewhat disconcerting. This notwithstanding, the immediate resistance to any continuing upward movement in price is provided by the descending 20dMA which would approximate 68.5c tomorrow. I went in this morning with a small long position at 64c. Let us see how things turn out tomorrow.


2 comments:

Anonymous said...

Hi

What do you mean by sell down? There should be a buyer for there to be selling right
So what determines if people want to sell or buy?
I am confused a bit.

Thanks,

Lee Ann

AK71 said...

Hi Lee Ann,

When sellers are selling to the people queueing to buy, it is selling down.

When buyers are buying from the people queueing to sell, it is buying up.

So, imagine if there is much more selling down to the buy queue, it is more bearish. If there is more buying up, then, it is good news for the bulls.

I hope this helps. :)

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