CCNN 2014 QUARTER 1 RESULT
After paying a 2013 dividend of 0.70k which is the highest
the company has ever paid in the last three years, CCNN released it 2014
quarter 1 result which has an impressive bottom-line growth despite an
unimpressive top-line performance.
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| CCNN 2014 Q1 |
CCNN made an impressive increament in it PAT on a QoQ basis,
the PAT grew from 376mill in Q1 2013 to 699mill in Q1,2014 representing a
change of 85%, the feat was made possible by management effectiveness in
handling all its expenses (distribution, administration and personal) which
were all seen to have reduced drastically across board. The company was also able
to reduce its finance expenses from 44mill in 2013 to 26mill in 2014.
Though the company EPS moved from 0.30k in 2013 to 0.56k
thereby giving rise to a PE of 16.45 with a 2014 estimated PE of 4.11 which
makes the company worthy of consideration, I however remain partly unconvinced
due to the bottom-line fortune not arising from its top line which gives rise
to subsequent quarter’s sustainability doubts.
In conclusion, CCNN has made it to my WATCH list while I await
subsequent quarter results.
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