Coastal versus Dutch Lady (A Comparative Study)

	3.4.2012		5.3.2012
	Coastal		Dutch Lady
Income Statement
	31/12/2011		31/12/2011
	RM (m)		RM (m)
Revenue	719.31		810.65
Gross Profit	196.67		304.47
Operating Profit	-		139.372
Financing costs	-0.519		-0.919
PBT	191.636		141.553
PAT	190.954		108.082
EPS (basic) sen	39.51		168.88
EPS (diluted) sen
Balance Sheet
NCA	98.487		74.048
CA	1042.326		324.465
Total Assets	1140.813		398.513
Total Equity	770.798		259.154
NCL	16.936		4.051
CL	353.079		135.308
Total Liabilities	370.015		139.359
Total Eq + Liab	1140.813		398.513
Net assets per share	1.595		4.05
Cash & Eq	150		193.143
LT Borrowings	11.414		0
ST Borrowings	4.089		0
Net Cash	134.497		193.143
Inventories	819.277		93.448
Trade & other receivables	72.347		36.713
Trade & other payables	348.967		121.831
Quick Ratio	0.63		1.71
Current Ratio	2.95		2.40
Cash flow statement
PBT	191.636		141.553
OPBCWC	194.058
Cash from Operations	61.380		188.290
Net CFO	59.471		161.940
CFI	14.510		-7.135
CFF	-75.736		-47.319
Capex	-16.547		-10.882
FCF	42.924		151.058
Dividends paid	-40.231		-46.400
DPS (sen)	8.33		72.5
No of ord shares (m)
basic	483.229		64
diluted
Financial Ratios
Gross Profit Margin	27.34%		37.56%
Net Profit Margin	26.55%		13.33%
Asset Turnover	0.63		2.03
Financial Leverage	1.48		1.54
ROA	16.74%		27.12%
ROC	30.01%		163.73%
ROE	24.77%		41.71%
Valuation	3.4.2012		5.3.2012
Price	2.02		29.5
Market cap (m)	976.12		1888.00
P/E	5.11		17.47
P/BV	1.27		7.29
P/FCF	22.74		12.50
P/Div	24.26		40.69
DPO ratio	0.21		0.43
EY	19.56%		5.72%
FCF/P	4.40%		8.00%
DY	4.12%		2.46%