Neo Group, the events food caterer, reported earnings soared four times to $2.8 million for the six months ended July 31 from a year ago (1H2014).
The rise in earnings come as revenue rose 23.2% to $23.1 million, mainly due to contributions from its food catering business.
Revenue from this segment grew by 28% to $17.2 million from $13.4 million in 1H2013, as a result of a higher volume of events in the social, corporate and government sectors.
The group?s food retail business also did well in 1H2014, recording an 11% increase in revenue to $5.9 million.
Based on its latest set of results, Earnings per Share of the group improved to 1.92 cents in 1H2014, from 1.39 cents in 1H2013.
The directors are recommending a tax-exempt interim dividend of 1.16 cents per share for 1H2014.
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Neo Group founder seeks to take firm private via voluntary conditional cash offer
NEO Group founder, chairman and chief executive officer Neo Kah Kiat intends to take the Catalist-listed food caterer private via a voluntary conditional cash offer at S$0.60 per share, the firm announced on Tuesday after market close.
The offeror, Forestt Investment, was incorporated for the purpose of the offer, with its directors being Mr Neo and Neo Group executive director Liew Oi Peng.
Mr Neo and Ms Liew, who hold 76.79 per cent and 5.47 per cent of shares in Neo Group respectively - for a total of 82.26 per cent - have given their irrevocable undertakings for the offer.
The offer is an opportunity for shareholders to realise their investment " at a premium to historical prices without incurring brokerage and trading costs in an uncertain economic environment" , said the offeror.
The offer price of S$0.60 per share is the highest closing price of the shares in over 2.5 years before March 29, the last trading day.
It represents a premium of 17.9 per cent, 14.5 per cent, 15.4 per cent, and 31 per cent, respectively, over the volume-weighted average price per share for the one-month, three-month, six-month, and 12-month periods up to and including the last trading day.
The offeror said it believes that delisting and privatising Neo Group will allow " greater control and management flexibility" to manage the business, respond to changing market conditions, and optimise the use of management and resources.
The offer document will be despatched to shareholders between 14 and 21 days from Tuesday' s announcement, with the offer remaining open for acceptances by shareholders for at least 28 days from the offer document' s date of posting.
The board will appoint an independent financial adviser (IFA) to advise the independent directors. A circular with the advice of the IFA and recommendations of the independent directors will be sent to shareholders within 14 days from the offer document' s date of despatch.
In the meantime, shareholders are advised to exercise caution in dealing with their shares, said Neo Group.
It should offer $1.00 for the long term investors
Slowly sgx if no IPO no shares to buy already..
ysh2006 ( Date: 30-Mar-2021 17:11) Posted:
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Five six years ago mgt already buy their shares....quietly slowly want to exit this listing...
chinton86 ( Date: 25-May-2014 17:55) Posted:
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haha.That Eugene keep on selling....
Why requested for trading halt?
This year only got 455 shareholders. Top 20 shareholders increased their stakes.
Look like it's going to test the all time high by coming week!
At current share price, its PE is 20.2 times, price-to-book ratio is 6.3 times and dividend yield is 2.97%.
Is the share price too rich based on PE and price-to-book ratio? In my view, yes.
But looking at its capital structure, with 144 million shares outstanding, Neo family controls 78% of the shares, Sirus Venture Capital controls 3%, leaving free float of less than 30 million shares.
Of the 30 million free float, I suspect at least a third will hold on to the shares, thus leaving only 20 million shares circulating in the market. There are less than 480 shareholders according to last year' s annual report. ...last:$0.900... more
Neo Group reported record net profit of S$6.4 million for the fiscal year ended Jan 31, 2014. The food catering group on Friday said sales were at a record high of S$52.36 million, a 25.6% increase from a year ago, mainly driven by the growth in food catering business which increased by S$8.29 million or 27.0% to S$38.99 million.
Consequently, earnings per share were 4.44 cents, up from 2.87 cents a year ago A 1.51 cent per share final dividend has been proposed, bringing the total dividend for the year to 2.67 cents.
...last:$0.910...
Neo G is still moving upwards. Wonder whether its upswing is sustainable.
Advisable to buy?
Neo group will catch up with bread talk some time later .....
I tried their catering before. Quite ok.
Agree with ACL... I don' t like penny stocks. Only buy those above $2 actually.
I rather want it trade above $1 .........
Soon..........
Soon..........
Why didn't they do a bonus issue? Not confident?
FYJan14 net profit more than doubled to $6.4m, as topline grew 25.6% to a record $52.4m, driven by robust growth in the food catering business (+27%). Food retail business also contributed with a growth of 15.6%, as net outlets grew to 23, compared to 19 outlets a year ago. To support future growth, the group has launched a new product range under the brand name ?Best Catering? to cater to the mass market with Tingkat services and economical buffets. Neo will also build a new centralized kitchen that will increase its capacity from 10-15k guests/day to 15-20k guests/day. Final dividend of 1.51¢ per share brings full year payout to 2.67¢ (FY13: 1.5¢), implying yield of nearly 3%. Neo Group trades at 20.27x P/E.
Dividend 1.51 cents.
Profit increase 111%
Long.....
Profit increase 111%
Long.....
Singapore Exchange Securities Trading Limited (SGX-ST) wishes to draw the markets attention to the recent query SGX-ST issued to Neo Group Limited (the Issuer) on 20 March 2014 regarding the substantial decrease in its share price by 18.1% between 19 and 20 March 2014. The Issuer has responded on 21 March 2014 that it was not aware of any reasons that could possibly explain the trading in its securities. In its response, the company added that they would be releasing its full unaudited financial results for the financial year ended 31 January 2014 on or about 27 March 2014 .
In view of the trading activities observed and the Issuers response, shareholders and potential investors should exercise caution when dealing in the securities.
The Exchange will investigate all possible transgressions and will work with the relevant regulatory agencies to pursue actions to maintain a fair, orderly and transparent market.
...last:$0.855...
Ended at 52Weeks High.
Neo Group's 1H earnings soars to $2.8 mil