Saturday, 25 February 2012

BreadTalk’s revenue grew 20.8% to $365.9 million in FY2011

  • Group’s revenue grew 20.8% in FY2011 to historical high driven by broadbased
    growth across all businesses and geographical segments.
  • Excluding one time gain on sales of property in FY2010, profit after tax
    attributable to shareholders jumped 63.1% in FY2011 supported by higher
    operating profits across all business segments.
  • Proposed ordinary dividend of 1.0 Singapore cent and special dividend of 0.5
    Singapore cent.
 Using my excel to chun some numbers:

If we look deeper into its numbers,
  • The company is in netcash position of 46.6m (down from 51.8m)
  • Cash and cash equivalents up from 71.1m to 87.0m
  • Total debt increase from 19.3m to 33.5m
  • FCF before divy up from 8.9m to 11.8m 
  • FCF after discounting divy up from 6.1m to 7.6m
  • With special divy of 0.5 (total divy 1.5c), the dividend yield at price of 0.575 is 2.61% (first time paying special dividend!)
  • Dividend payout is at 36.32%
2.61% dividend yield may not seems great but the company is slowly growing in term of revenue and net profit. Given its netcash position and dividend payout of 36.32%, it definitely has room to give more dividend in future.

Currently I am not a shareholder yet but I will be waiting for the right time to enter, perhaps putting 10% of my portfolio to slowly grow with the company.

Where is the bear? Hope it will come after I sell finish :)


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