sOURCE
http://www.stockmarketsreview.com/news/cardia_bioplastics_research_and_analysis_20110805_159383/
FOURTH-QUARTER AND YEAR-END RESULTS
Cardia Bioplastics Limited has reported Q4 and full-year results for the fiscal year ended June 30, 2011. Below are selected highlights from the Company?s report. The full report is appended.
HIGHLIGHTS
- Total sales for Cardia?s 2011 fiscal year at A$1.7 million were 20% lower compared with fiscal 2010 sales of $2.2 million. For Q4, sales revenue was A$530,592, up from the prior quarter, but down from the corresponding period a year ago.
- The Company completed a renounceable rights issue to shareholders in Q4, with net proceeds of A$4,042,000.
- Cash at June 30, 2011 was A$4.155 million.
- The Company has a strong order book for its Biohybrid? products along with increasing demand for compostable products, and this is expected to be reflected in increased sales for the current fiscal year.
- To accommodate the demand for the Biohybrid products, production capacity at Cardia?s Nanjing factory for Biohybrid resin will be expanded to 10,000 tonnes per annum from the current 4,000 tonnes per annum.
RECOMMENDATION
We continue to recommend Cardia Bioplastics Limited as a Speculative Buy, suitable for long-term risk-tolerant investors. At A$0.008, the stock is trading at the low end of its 52-week range, and at a significant discount to our derivation of the intrinsic value (see eResearch?s October 28, 2010 Update Report, available at www.eresearch.ca). Our 12-month Target Price for the stock is A$0.065
- Forums
- ASX - By Stock
- 12 months target cnn $0.065
sOURCE...
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CNN (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO
Charles Armstrong
CEO
SPONSORED BY The Market Online