Interim Financial Statement - DIMO 31-03-2012

sriranga · 1 Interim Financial Statement - DIMO 31-03-2012 Thu May 31, 2012 9:56 am

sriranga

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DIMO - Financial Statements for the period ended 31-03-2012 have been uploaded on the CSE website

http://www.cse.lk/cmt/upload_report_file/694_1338378248517.pdf

sriranga · 2 Re: Interim Financial Statement - DIMO 31-03-2012 Thu May 31, 2012 9:57 am

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Interim Financial Statement - DIMO 31-03-2012 Dimo10

Redbulls · 3 Sri Lanka's auto dealership March net down 36-pct Thu May 31, 2012 4:21 pm

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May 30, 2012 (LBO) - Sri Lanka's Diesel and Motor Engineering Company Plc, which has agencies for Mercedes Benz and Tata, said profits fell 36 percent to 427 million rupees in the March 2012 quarter.

The firm reported earnings of 48.14 rupees for the quarter. The closed at 590 rupees up 18.70 Thursday. For the full year to March 2012, the firm reported earnings of 303.87 rupees per share on profits of 2.6 billion rupees up 27 percent from a year earlier.

Sri Lanka's auto dealers made large profits last year following an import tax cut and low interest rates.

After bank credit was used to manipulate energy prices, and central bank credit was used to manipulate interest rates, Sri Lanka's currency came under pressure and eventually fell from 110 to 130 rupees and interest rates also rose.

The state then also put up taxes on cars. Cars are a favourite target of rulers when the exchange rate falls from manipulating interest rates.

Sri Lanka's Employees Provident Fund was the top shareholder of the firm with 13.44 percent.
http://lbo.lk/fullstory.php?nid=1839982996

Monster · 4 Re: Interim Financial Statement - DIMO 31-03-2012 Thu May 31, 2012 4:52 pm

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Duty hike was implemented in end of March. But still March profit declined by 36% though the revenue has increased by 32%. Next quarter (1Q) profit would be worst than this considering high interest rate and import duty hike.

Redbulls wrote:
Sri Lanka's Employees Provident Fund was the top shareholder of the firm with 13.44 percent.
http://lbo.lk/fullstory.php?nid=1839982996

If I am not mistaken, EPF has purchased during mid of 2011 at Rs 1400/-

sriranga · 5 Re: Interim Financial Statement - DIMO 31-03-2012 Thu May 31, 2012 5:35 pm

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Monster wrote:Duty hike was implemented in end of March. But still March profit declined by 36% though the revenue has increased by 32%. Next quarter (1Q) profit would be worst than this considering high interest rate and import duty hike.

Redbulls wrote:
Sri Lanka's Employees Provident Fund was the top shareholder of the firm with 13.44 percent.
http://lbo.lk/fullstory.php?nid=1839982996

If I am not mistaken, EPF has purchased during mid of 2011 at Rs 1400/-

Above 1400.00.
Please see the chart below.

Interim Financial Statement - DIMO 31-03-2012 Dimo11

UKboy · 6 Re: Interim Financial Statement - DIMO 31-03-2012 Fri Jun 01, 2012 12:53 am

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I genuinely feel sorry about whoever purchased DIMO above Rs 1000. It's pretty shame to see that all highly illiquid oil palm companies (im not talking about BUKI that should be a completely different topic) have higher market cap than DIMO.

Market CAP as per on 30/05/2012

DIMO = 0.29%
SHAL = 0.36%
SELI = 0.46%
GOOD = 0.46%
INDO = 0.58%

I think that is really really unfair. These stupid Oil palm companies should not be listed in a tiny market like CSE. Evil or Very Mad

Note: I dont have a single DIMO share at the moment.

aj · 7 Re: Interim Financial Statement - DIMO 31-03-2012 Fri Jun 01, 2012 8:17 am

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UKboy wrote:
I think that is really really unfair. These stupid Oil palm companies should not be listed in a tiny market like CSE.

I remember around beginning last year Carsons bought back those remaining few palm oil shares saying they're going to be delisted soon or something. But still they are wasting space and indexes.

Monster · 8 Re: Interim Financial Statement - DIMO 31-03-2012 Fri Jun 01, 2012 10:00 am

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aj wrote:

UKboy wrote:
I think that is really really unfair. These stupid Oil palm companies should not be listed in a tiny market like CSE.

I remember around beginning last year Carsons bought back those remaining few palm oil shares saying they're going to be delisted soon or something. But still they are wasting space and indexes.

I wish, if Carsons can delist these highly illiquid palm oil companies from our tiny market. Carsons has increased it's stake on these companies during last financial year (see below).

Public holding 31-03-2011 ---- 31-03-2012
GOOD--- 10.56% --- 5.79%
SELI ---- 11.96% ---4.33%
INDO ---- 14.33% ---10.13%
SHAL ---- 7.68% ---- 4.51%

What's the procedure to delist a company, if minority share holders are not willing to sell. I remember AMW delisted in 2008 after dubai based conglomerate Al Futtaim took the ownership.