Best World International (BWL) 2010 financial result highlights

On 22^nd another one of my holding counter BWL also released its full 2010 financial result.

Entry point: 29.05 cents

Current price: 27 cents – down abt 7.1%

Dividend pay out announced: 1 cent per share

Dividend yield: 3.44%

Base on the result released, I am a bit concerned about this counter.

Summarized some important findings here:

(1)   Revenue decreased 32% from 73M to 49.5M.

(2)   Net profit decreased 78% from 9.7M to 2.1M.

(3)   Net profit margin decreased from 13.3% to 4.9%.

(4)   Earning per share decreased 74.6% from 4.69 cents to 1.19 cents.

(5)   NAV per share decreased from 26.18 cents to 24.65 cents.

But if we just look at 4^th Quarter financial result alone, the future may look brighter now:

(1)   4Q10 contributed abt 16.8M revenue - projected full year revenue 67.2M.

(2)   The whole 2010 profit 2.1M actually came from 4Q10.

(3)   4Q10 net profit margin kept at 13.5%.

(4)   4Q10 earning per share 1.11 cents – projected full year P/E ratio 6.1.

In addition this counter was backed by 17 cents cash or cash equivalent per share.

In conclusion I will hold on my current position for another 3 months and am expecting some goods news come from 1^st quarter 2011 financial result.