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 [FRASER & NEAVE HOLDINGS BHD:收入下降已被现代贸易渠道的销售增加所缓解。自从5月初政府放松对MCO的限制以来,F&B Malaysia的销售和库存量逐渐改善]

3Q20 vs 3Q19:
集团的税前盈利下跌22.8%至1.200亿令吉。

F&B Malaysia:
F&B Malaysia的营业利润下跌42.5%至3,030万令吉。收入下降已被现代贸易渠道的销售增加所缓解。自从5月初政府放松对MCO的限制以来,F&B Malaysia的销售和库存量逐渐改善。受到严重影响的HORECA channel正在缓慢改善,因为现在允许它们在Recovery MCO下运行。自2020年6月以来,对GT渠道的销售开始趋于稳定。其出口销售也开始看到向某些市场的销售逐渐回归。 MCO采取措施保护工人的健康,并未对他们的制造业务造成重大破坏。

尽管Hari Raya的庆祝活动被取消,斋月节被取消,但F&B Malaysia还是利用了数字化技术,他们的在线电子商务商店以及与其他电子商务合作伙伴的合作关系,将产品带入客户的家门口,并推出了全新的teh tarik饮料-F&N Teh Tarik Ori和F&N Teh Tarik Less Sweet的新产品。他们还在F&N Life电子商务商店举办了马来西亚首个也是最大的虚拟销售活动“ Mamak Virtual Terbesar Teh Tarik Ori F&N”和“ Gerai Rasa Raya”(Tray of Raya)运动。后面的活动介绍了通常在附近集市上找到的斋月佳肴的食谱,以便消费者可以在家中重新制作它们,同时还为人们提供了购买其喜爱的F&N产品的平台。

F&B Thailand:
收入下降部分被出口增长所抵消。 F&B Thailand的营业利润相应下降了7.6%(按泰铢计算,为10.9%),至9,160万令吉,并被广告,营销和运营费用的下降部分抵消了。 F&B Thailand致力于通过提高品牌知名度和忠诚度,支持小贩/ HORECA回到COVID-19之后的业务并不断推出新产品,来推动现代贸易和便利店的购买量。泰国F&B推出了其首款由100%新西兰牛奶制成的牛奶片– MAGNOLIA Milkies,并在TEAPOT Squeeze系列中推出了新的限量版芒果味甜炼乳。受消毒和淡奶订单增加的推动,F&B Thailand出口收入增长了14.9%(以泰铢计算)。

YTD20 vs YTD19:
截至2020年6月30日的集团收入小幅下降了2.2%,但被泰国F&B和马来西亚F&B第一季度强劲的收入增长所抵消。集团的税前利润下降了6.5%,F&B Thailand贡献了集团营业利润的70%以上。

F&B马来西亚:
这期间的收入收缩了7.3%,部分被财政年度上半年出口增长25%所抵消。鉴于行动限制和消费者购买行为的变化,F&B Malaysia继续利用其新推出的电子商务平台(F&N Life)来完善其进入市场和渠道的战略; F&N Life在MCO期间帮助他们的产品吸引消费者。在这一年中,他们继续推出一系列新产品,例如:

-2种口味的Sunkist纯果汁饮料-橙和柠檬苹果;
-100PLUS零,无糖和无卡路里;
-F&N Teapot Sweetened Condensed Milk Squeeze Tube,有2种新的本地口味-古拉马六甲(Gula Melaka)和班丹(Pandan);
-F&N Ice Mountain Sparkling Water Classic和2种清爽口味(柠檬和葡萄柚);
-F&N经典食谱– F&N Orange Crush和Sarsi,按部分控制的包装尺寸;
-两种新的优质无糖日本绿茶-OYOSHI黄金无糖Kabusecha和OYOSHI黄金无糖Sencha;和
-F&N Teh Tarik Ori和F&N Teh Tarik Less Sweet。

F&B Malaysia营业利润下跌22.5%至1.033亿令吉。

F&B Thailand:
F&B Thailand在此期间实现了14.858亿令吉的收入,其中有利的RM / THB外汇换算使收入增加了3.6%。强劲的上半年表现部分缓解了COVID-19对第三季度的影响。在此期间,F&B Thailand继续向全国的小贩提供支持;建立品牌忠诚度和知名度,并继续推出新产品,例如:

-抹茶味和限量芒果口味的TEAPOT Sweetened Condensed Milk Squeeze Tube;
-装在1公斤小袋中的CARNATION和TEAPOT淡奶;
-CARNATION Plus 0% Fat Sweetened Condensed Milk Squeeze Tube;和
-MAGNOLIA Milkies-由100%新西兰牛奶制成的牛奶片,有3种口味,分别是经典麦芽,草莓酸奶和北海道牛奶。

在RM / THB外汇换算有利的推动下,F&B Thailand营业利润提高了2.2%,达3.08亿令吉。

3Q20 vs 2Q20:
集团的税前盈利下跌10.5%至1.200亿令吉(第二季:1.341亿令吉)。

前景:
他们感谢当局的有效领导以及一线工人为拉平马来西亚和泰国感染曲线所做的不懈努力。尽管他们相信自己强大的业务基础将使他们能度过这场危机,但他们明白全球范围内抗击该流行病的战争还远未结束。他们将继续保持警惕,并已在其办公室和工厂采取了必要的措施,以保护其员工的健康。他们还采取了措施,以确保其供应链不会出现重大中断。 6月后,他们看到马来西亚,泰国和一些出口市场的需求回升的初步迹象。因此,他们对经济活动逐步恢复到正常的情况感到乐观,认为第四季度的销售将好于第三季度。

从长远来看,他们认为这种大流行是重置的机会,也是变革的催化剂。他们将需要面向未来,以确保他们能够在这场危机中变得更加强大。这将包括流程改进和数字化。他们将继续投资于资本支出和品牌,以进一步加强业务。他们还可以利用强大的资产负债表,充足的备用银行贷款和较低的融资成本来支持其运营并利用可能出现的机会。
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James Ng Stock Pick Performance:
Since Recommended Return:

a. FRONTKEN CORP BHD, recommended on 12 Aug 18, initial price was RM0.715, rose to RM3.46, dividend RM0.04, in 2 years 2 days, total return is 389.5%

b. TOP GLOVE CORP BHD, recommended on 1 July 18, initial price was RM12.14, rose to RM47.64 adjusted, dividend RM0.52, in 2 Years 1 month 13 days, total return is 296.7%

c. MI TECHNOVATION BERHAD, recommended on 2 Jun 19, initial price was RM1.67, rose to RM5.90 adjusted, dividend RM0.055, in 1 Year 2 months 12 days, total return is 256.6%

d. KKB ENGINEERING BHD, recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.64, dividend RM0.04, in 2 Years 1 month 13 days, total return is 111.3%

e. OPENSYS M BHD, recommended on 24 May 20, initial price was RM0.355, rose to RM0.67, dividend RM0.0025, in 2 months 21 days , total return is 89.4%

f. KAREX BHD, recommended on 20 Oct 19, initial price was RM0.445, rose to RM0.675, dividend RM0.015, in 9 months 25 days, total return is 55.1%

g. POWER ROOT BHD, recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.10, dividend RM0.188, in 1 Year 10 months 7 days, total return is 43.9%

h. PROLEXUS BHD, recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.64, dividend RM0.003, in 11 months 20 days , total return is 41.3%

i. DESTINI BHD, recommended on 24 Sep 19, initial price was RM0.20, rose to RM0.28, in 10 months 21 days , total return is 40%

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超过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页面与我联系。

Whatsapp : 011 - 15852043

请订阅James的股票投资James Share Investing的Youtube频道:https://www.youtube.com/channel/UC60FiPa8yhuzgA0YMPuzgXQ

Facebook Group: https://www.facebook.com/groups/jamesinvesting

这个是我的TELEGRAM Group链接: https://t.me/joinchat/LhwHNhdU1fDgxrSafTrTiw

请大家来Follow James的Instagram,获取最新的资讯:jamesnginvest

免责声明:
高波动性投资产品,你的交易存在风险。过往表现不能作为将来业绩指标。内容仅作为分享,讨论以及领域的分析,而非是一种投资建议,买或卖自负。请Like和Share。最终决定永远是你的,谢谢。

James Ng
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[FRASER & NEAVE HOLDINGS BHD: Revenue declined has been mitigated by increase in sales to Modern Trade channel. Since the Government eased the MCO restrictions from early May, F&B Malaysia has seen gradual improvement in sales and stocks movement]

3Q20 vs 3Q19:
Group profit before tax declined by 22.8% to RM120.0 million.

F&B Malaysia:
Operating profit for F&B Malaysia declined by 42.5% to RM30.3 million. Revenue declined has been mitigated by increase in sales to Modern Trade channel. Since the Government eased the MCO restrictions from early May, F&B Malaysia has seen gradual improvement in sales and stocks movement. HORECA channel which has been more severely impacted is slowly improving as they are now allowed to operate under Recovery MCO. Sales to GT channel had started to stabilise since beginning of June 2020. Their Export sales have also started to see gradual return of sales to certain markets. The MCO did not result in major disruption to their manufacturing operations as they implemented measures to safeguard the health of their workers.

Despite muted Hari Raya festivities and cancellation of Ramadan Bazaars, F&B Malaysia leveraged on digitalisation, their online e-commerce store and partnership with other e-commerce partners to bring products to their customers’ doorstep and to introduce the brand new teh tarik beverage - F&N Teh Tarik Ori and F&N Teh Tarik Less Sweet variants. They also hosted Malaysia's first and largest virtual teh tarik session "Mamak Virtual Terbesar Teh Tarik Ori F&N" and “Gerai Rasa Raya” (Taste of Raya) Campaign on F&N Life e-commerce store. The latter campaign introduced recipes for Ramadan delights typically found at neighbourhood bazaars so that consumers can re-create them at home, while also providing a platform for people to purchase their favourite F&N products.

F&B Thailand:
Revenue decreased partially offset by growth in exports. Operating profit for F&B Thailand correspondingly declined by 7.6% (10.9% in Thai Baht terms) to RM91.6 million, and partially offset by lower advertising, marketing and operating expenses. F&B Thailand focused on driving offtake in Modern Trade and convenience stores by strengthening brand visibility and loyalty, supporting the hawkers/HORECA to get back to business post-COVID-19 and continuously introducing new products. F&B Thailand launched its first ever milk tablets made from 100% New Zealand milk – MAGNOLIA Milkies and introduced a new limited-edition Mango-flavoured Sweetened Condensed Milk variant to the TEAPOT Squeeze range. F&B Thailand export revenue grew by 14.9% (in Thai Baht terms) driven by higher orders for sterilised and evaporated milk.

YTD20 vs YTD19:
Group revenue for the period ended 30 June 2020 declined marginally by 2.2% and cushioned by strong 1st quarter revenue growth for F&B Thailand and F&B Malaysia. Group profit before tax declined by 6.5%, with F&B Thailand contributing over 70% of the Group operating profit.

F&B Malaysia:
Revenue for the period contracted by 7.3%, partly mitigated by 25% growth in exports for the 1st half of the financial year. F&B Malaysia continued to sharpen their route-to-market and channel strategies in view of the movement restrictions and changes in consumer buying behaviour, leveraging on their newly launched e-commerce platform; F&N Life to help their products reach their consumers during the MCO. During the year, they continued to launch a stream of new products/variants such as:

- Sunkist Pure Juice Drink in 2 variants - Orange and Lemon Apple;
- 100PLUS Zero, sugar-free and calorie-free variant;
- F&N Teapot Sweetened Condensed Milk Squeeze Tube in 2 new local flavours - Gula Melaka and Pandan;
- F&N Ice Mountain Sparkling Water Classic and 2 refreshing flavours (Lemon and Grapefruit);
- F&N Classic recipes – F&N Orange Crush and Sarsi in portion-controlled pack size;
- two new premium no sugar Japanese Green Tea – OYOSHI Gold No Sugar Kabusecha and OYOSHI Gold No Sugar Sencha; and
- F&N Teh Tarik Ori and F&N Teh Tarik Less Sweet variants.

F&B Malaysia operating profit declined by 22.5% to RM103.3 million.

F&B Thailand:
F&B Thailand achieved revenue of RM1,485.8 million for the period, with 3.6% higher revenue aided by favourable RM/THB forex translation. The impact of COVID-19 for the 3rd quarter was partially mitigated by a strong 1st half performance. Throughout the period, F&B Thailand continued providing support to its hawkers nationwide; building brand loyalty and visibility and continued to introduce new products such as:

- new variant for TEAPOT Sweetened Condensed Milk Squeeze Tube in Matcha flavour and limited-edition Mango flavour;
- CARNATION and TEAPOT Evaporated Milk in 1 kg pouch;
- CARNATION Plus 0% Fat Sweetened Condensed Milk Squeeze Tube; and
- MAGNOLIA Milkies - milk tablets made from 100% New Zealand milk, available in 3 flavours, which are Classic Malt, Strawberry Yogurt and Hokkaido Milk.

Aided by favourable RM/THB forex translation, F&B Thailand operating profit improved 2.2% to RM308.0 million.

3Q20 vs 2Q20:
Group profit before tax declined by 10.5% to RM120.0 million (2nd quarter: RM134.1 million).

Prospects:
They are grateful for the effective leadership from the authorities and the tireless efforts made by frontline workers in flattening the infection curve in both Malaysia and Thailand. While they believe their strong business fundamentals will see them through this crisis, they are mindful that globally the war against the pandemic is far from over. They will continue to be vigilant and have taken the necessary measures in their offices and factories to safeguard their staff wellbeing. They have also put in measures to ensure no significant disruption in their supply chain. Post June, they are seeing tentative signs of recovery in demand from Malaysia, Thailand and some of their Export markets. As such, they are cautiously optimistic that sales in the 4th quarter will be better than 3rd quarter as economic activities gradually normalise.

In the longer term, they believe this pandemic is an opportunity for reset and a catalyst for change. They will need to be future-focused to ensure they can emerge stronger from this crisis. This will include process improvements and digitalisation. They will continue to invest in capex and in their brands to further strengthen their businesses. They can also leverage on their strong balance sheet, adequate stand-by bank facilities and low funding cost to support their operations and capitalise on opportunities that may arise.
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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 over 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.

This sharing is purely a discussion and analysis of the sector, buying or selling at your own risk. Please Like and Share this post. Final decision is always yours, thank you.

James Ng

https://klse.i3investor.com/blogs/general/2020-08-17-story-h1512365770.jsp
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