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GRAN.N000 Below 65/=

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GRAN.N000 Below 65/=

Post by kcrRanz on Tue May 09, 2017 12:23 pm

We could collect GRAN below Rs.65/=

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Re: GRAN.N000 Below 65/=

Post by kcrRanz on Tue May 09, 2017 12:49 pm

Sri Lankan poultry firm March quarter net down 49-pct

May 09, 2017 11:21 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Ceylon Grain Elevators, a Sri Lankan poultry and feed milling group, said March 2017 quarter net profit fell 49% to Rs168 million from a year ago mainly owning to higher raw material prices and import restrictions. 

Earnings per share fell to Rs2.80 from Rs5.54 over the period with sales up 5% to Rs3.8 billion, according to interim accounts filed with the Colombo stock exchange.

“Although there was a revenue growth reported during the quarter under review, it is pertinent to note that group results were adversely affected by price hikes of key raw material,” Primus Cheng Chih Kwong, Executive Director and Chief Executive Officer said in a note accompanying the accounts.

“Decreased yield in the local maize cultivation and import constraints imposed by the government brought about an increasingly tight market that caused the price of local maize to be pushed up by over 20%, when compared to the same quarter of the previous year.” 

The production shortfall and import restrictions caused a situation where feed millers were not able to get their maize requirements, despite them being ready to purchase the entire local maize production at a reasonable price acceptable both to the government and the farmers, Primus said. 

“This scenario in fact compelled feed millers to pay artificially higher prices for maize thus pushing their cost of production higher, since their ability to exercise management skills to purchase imported maize at times when international prices are lower, was curtailed consequent to import restrictions,” he said.

In the backdrop of local maize production being way below the demand from feed millers, he called for the government to consider issuing import permits directly to feed millers without bringing in intermediaries.

This should enable feed millers to procure maize at competitive prices through international procurement planning, he said. 

“This will no doubt lower their cost of production and will make it possible for them to provide cheaper feed to the local farmers, ultimately resulting in there being protein rich chicken meat available to local consumers at a more affordable price.”

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Re: GRAN.N000 Below 65/=

Post by kcrRanz on Tue May 09, 2017 1:06 pm

The ongoing drought that has parched several parts of the country has placed many poultry farmers in a difficult situation .

This quarter will be again bad for Gran /tafl /bfl

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Re: GRAN.N000 Below 65/=

Post by samcader on Tue May 09, 2017 7:55 pm

TAFL  have  announced  their  financial  results  for  the  period  ended  31st March  2017.They  have  reported  a  marginal  drop  in  both  revenue  and  profits   when  compared  on a  year  on  year  basis

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Re: GRAN.N000 Below 65/=

Post by anges on Tue May 09, 2017 9:49 pm

looks good

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Re: GRAN.N000 Below 65/=

Post by DS Wijesinghe on Fri May 12, 2017 3:35 pm

GRAN group annual EPS growth from 2011 to 2016 is around 25%. The annual growth in group NAVP is around 14%. With the government lifting the price control on chicken prices, the 2nd quarter will see increased profits with market forces determining retail prices of chicken. It's even trading well below group net asset value which is around 87/-. 2nd quarter would certainly be better profits by GRAN

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Re: GRAN.N000 Below 65/=

Post by kcrRanz on Wed May 17, 2017 10:37 am

Gran will drop to 60/= level.wait and buy around 60/=

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