Around the Traps ... with THE FERRET 08:29, Friday, 6 July 2007
Sydney - Friday - July 6: (RWE Australian Business News) - *************************
TFS CORP (TFC) has made a placement of 17 million shares at 90c and the shares, instead of falling towards that price, rose 3c to a record $1.
The shares have more than doubled over the past 12 months from below 40c.
TFS grows sandalwood.
Who'da thought it would be so profitable.
TFS expects net profit for FY07 to be at least $16.5 million, a rise of more than 30 per cent on FY06.
"The upwards revision to our earnings expectations, from a previously indicated increase in net profit of at least 10 per cent, is a direct reflection of the better-than-expected sales performance," executive chairman Frank Wilson said.
We calculate EPS will be about 8c, which makes an increase in the 2c dividend highly likely.
TFS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
