[DKSH (5908) DKSH控股 DKSH HOLDINGS MALAYSIA BHD] - James的股票投资


 [DKSH HOLDINGS MALAYSIA BHD:由于引入销售和服务税(SST)相关的短期波动,营销和分销部门的前景仍然不太乐观,特定客户合同的一次性负面影响,影响了第三季度业绩]

季度:
本季度的营业费用由去年同期第三季度的13.6亿令吉增加10.7%至15亿令吉。经营费用较2018第二季度的14.2亿令吉增加5.6%至15亿令吉。由于本季度一次性可疑债务拨备导致营业利润较2018年第二季度减少34.6%,造成成本增加超过收入改善。与2017年同期相比,本季度税前利润下降7.4%,与2018年第二季度相比下降了33.1%。

年初至今:
经营费用较2017年的40.8亿令吉增加6.9%至43.7亿令吉。由于产品组合的变化导致相应的销售商品成本小幅上升,该期间的成本增长略高于收入增长,以及成本基数略微增加以支持未来增长。与2017年相比,税前利润下降6.9%。税前利润下降是产品组合变化和成本基数略有增加的结果。

营销和分销部门:
季度:
本季度的经营业绩为490万令吉,较2017年第三季度下降28.2%,比2018年第二季度低了47.9%。经营业绩较2017年第三季度减少反映了产品结构的变化,一次性可疑债务拨备的影响以及相对于去年同期和2018年第二季度增加的成本基数。

年初至今:
2018年的经营业绩为1,960万令吉,较2017年减少37.6%。经营业绩减少反映了第二季度产品结构的变化,一次性可疑债务准备以及相对于上一期间增加的成本基础以支持未来成长。

物流部门:
季度:
与2018年第二季度相比,经营业绩相对稳定,略微下降0.3%。

年初至今:
2018年的经营业绩为3470万令吉,较2017年增长41.9%。

其他部门:
季度:
二零一八年第三季的经营业绩较二零一七年同季轻微上升3.6%,对比二零一八年第二季则减少120万令吉。

年初至今:
2018年第三季度的经营业绩比去年减少了80万令吉。尽管收入有所改善,但业绩减少反映了费用增加。

前景:
由于与2018年9月1日引入销售和服务税(SST)相关的短期波动,营销和分销部门的前景仍然不太乐观。特定客户合同的一次性负面影响,影响了第三季度业绩但预计不会影响第四季度。
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James Ng Stock Pick Performance:
Since Recommended Return:

a) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.14 in 2 months 10 days, total return is 13.2%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.90 in 5 months 23 days, total return is 13.2%

我希望将我的策略分享给读者,希望他们在阅读后能够表现出色。我正在使用基本面分析(Fundamental Analysis):

预计公司每年的增长率必须> 14%

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人,可以通过 jamesngshare@gmail.com 或我的FB页面 https://web.facebook.com/jamesshareinvest/ 与我联系

【看懂年报和季报】课程
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日期:1月27日星期日
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日期:2月24日星期日
地点:Hotel Sri Petaling, KL (包括茶点)

日期:3月3日星期日
地点:G Inn Hotel, George Town (Penang)

有兴趣的朋友,可以电邮或PM FB page联络我
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James Ng
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[DKSH HOLDINGS MALAYSIA BHD: prospects for the Marketing and Distribution Segment remain less positive due to short-term volatility relating to the introduction of Sales and Services Tax (SST), an one-off negative impact from a specific client contract impacted the third quarter result]

Quarterly:
Operating expenses for the quarter increased by 10.7% from RM 1.36 billion to RM 1.50 billion as compared to corresponding third quarter of 2017. Operating expenses increased by 5.6% from RM 1.42 billion to RM 1.50 billion as compared to the preceding second quarter of 2018. The cost increased more than the improvement in revenue due to a one-off doubtful debts provision in the current quarter resulting in profit from operations decreased by 34.6% compared to the preceding second quarter of 2018. Profit before tax for the quarter declined by 7.4% compared to the same quarter of 2017 and declined by 33.1% compared to the preceding second quarter of 2018.

YTD:
Operating expenses increased by 6.9% from RM 4.08 billion to RM 4.37 billion as compared to 2017. The cost increase for the period was slightly higher than the growth in revenue due to a change in product mix which led to a corresponding small increase in cost of goods sold and slight increase in cost base to support future growth. Profit before tax declined by 6.9% as compared to 2017. The lower profit before tax performance is a result of the change in product mix and slight increase in cost base.

Marketing and Distribution segment:
Quarterly:
The operating result for the quarter was RM 4.9 million, which was 28.2% below the same third quarter of 2017 and below the preceding second quarter of 2018 by 47.9%. The reduction in operating result against the third quarter of 2017 reflects a product mix shift, effect from a oneoff doubtful debts provision and increased cost base relative to the prior year quarter and preceding second quarter of 2018.

YTD:
The operating result for 2018 was RM 19.6 million, which was 37.6% below 2017. The reduction in operating result reflects a product mix shift in the second quarter, one-off doubtful debts provision and increased cost base relative to the prior period to support future growth.

Logistics segment:
Quarterly:
As compared to the preceding second quarter of 2018, the operating results is relatively stable showing a marginal decrease by 0.3%.

YTD:
The operating result for 2018 was RM 34.7 million, which is an 41.9% increase on 2017.

Others segment:
Quarterly:
The operating result for the third quarter of 2018 improved marginally by 3.6% on the corresponding quarter of 2017 and reduced by RM 1.2 million on the preceding second quarter of 2018.

YTD:
The operating result for the third quarter of 2018 was RM 0.8 million lower than prior year. The reductions reflect rising expenses despite improved revenue.

Prospects:
Prospects for the Marketing and Distribution Segment remain less positive due to short-term volatility relating to the introduction of Sales and Services Tax (SST) on September 01, 2018. A one-off negative impact from a specific client contract impacted the third quarter result but is not expected to affect the fourth quarter.
------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

a) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.14 in 2 months 10 days, total return is 13.2%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.90 in 5 months 23 days, total return is 13.2%

I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:

the forecasted growth of a company must > 14% per year

I wish to convince readers to learn FA in order to make money from stock market.

I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page https://web.facebook.com/jamesshareinvest/



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James Ng

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