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Wednesday, 9 October 2013

Transit Mixed Concrete HY13 looking good

Results improving at Transit-Mixed Concrete company over the last six months.
Revenue +21%, Profit +68%. 
Cash flow improving from –ve $1.1 mil to –ve $417k; yes, it is using bank overdraft facilities. 
Cash generated from operating activities at $2.24 mil versus previous year at $861k. 
Capex jumped to $1 mil from $260k previous year so, we still have a free cash flow situation. 

Final dividend $0.015 declared versus $0.01 for last year. 

Per latest last done price of $0.34 and in the last five years, total dividend in 2013 at $0.025 so, dividend yield at 7.4%; highest dividend was in 2009 of $0.035 (dividend yield 10.3%), lowest dividend was in 2012 of $0.02 (dividend yield 5.9%).    

Market cap around SGD 24 mil

Very small average volume 1k so, it is really for long term investing.

It can be considered a family run business with share holding above 70%.

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