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合成工业 (HUPSENG) - 仍在努力经营,创造佳绩

由于国内和出口市场销售季节性下滑,收入下滑10.5%至7,710万令吉。 此外,毛利率也从38%下降至36.7%是因为较高的投入成本而导致税后盈利较低(-23.0%)。其主要原因是投入成本较高(以棕榈油,面粉和食糖等原料为主),而运营成本仍然很高(管理和营销费用包括员工,运输,能源成本占收入的五分之一)。 由于毛棕榈油价格较便宜,相信未来利润率将继续提高。



利润连续两年下降后,6月1日开始,GST 降至0%将消费者信心逐步改善,预示着提高该集团的盈利。 尽管第一季度的毛利率较低,但毛利率下降将导致原材料成本下降。 估计2018年棕榈油价格平均价格将低于2,500令吉/吨,而2017年平均价格为2,715令吉。迄今为止,棕榈油价格平均为2,465令吉/吨。 请注意,棕榈油和面粉占集团原材料成本的70%以上。

合成工业表示,由于现代化商店的销售收入增长以及分销商网络规模扩大,销售额有所增长。通过培育自己的分销网络打开中国市场的计划尚未起飞。预计合成工业的额外增长将来自中东和中国市场出口销售的增长,因为有更高的销售激励措施; 和分销商的促销赞助活动。 相信2018年国内销售将增长2.8%。

合成工业仍在努力管理经营和投入成本,以及强劲的股息收益率,健康的净现金状况和预期的利润率扩张。基于60%的股息政策,预计该集团在2018年支付6仙(与2017财年相似),意味着潜在的股息收益率为4.8%。

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