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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » What a worse performance plantation

What a worse performance plantation

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1What a worse performance plantation Empty What a worse performance plantation Tue Jul 30, 2013 9:55 am

aero


Manager - Equity Analytics
Manager - Equity Analytics
http://www.cse.lk/cmt/upload_report_file/728_1375153096.pdf
look at WATA statement big loss TEA and RUBBER..
only hang up with palm oil profit....

2What a worse performance plantation Empty Re: What a worse performance plantation Tue Jul 30, 2013 10:07 am

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
could this be the situation with all the plantation companies?

3What a worse performance plantation Empty Re: What a worse performance plantation Tue Jul 30, 2013 10:11 am

aero


Manager - Equity Analytics
Manager - Equity Analytics
I think this is the indicator for all other plantation companies situation...
(specially tea plantations)

4What a worse performance plantation Empty Re: What a worse performance plantation Tue Jul 30, 2013 10:26 am

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
SUN sold out of this. Just in case any of you trying something funny. No selling now ok. Just walk to exit don't run ....... otherwise

5What a worse performance plantation Empty Re: What a worse performance plantation Tue Jul 30, 2013 10:28 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
I am guessing KGAL,NAMU,KVAL might be some of the other very few who might end up with positive earning this quarter.


@aero wrote:I think this is the indicator for all other plantation companies situation...
(specially tea plantations)

6What a worse performance plantation Empty Re: What a worse performance plantation Tue Jul 30, 2013 10:35 am

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
@rainmaker wrote:SUN sold out of this. Just in case any of you trying something funny. No selling now ok. Just walk to exit don't run ....... otherwise

hat do u mean buddy?

7What a worse performance plantation Empty Re: What a worse performance plantation Tue Jul 30, 2013 10:57 am

nirowat


Manager - Equity Analytics
Manager - Equity Analytics
For this quarter the gross margin has only reduced by 5%, which is where the wage hike should impact. The poor Q on Q drop in profit is due to reduction in other income which I am not sure what.

Y on Y profits up.

Where is the doom and gloom?

8What a worse performance plantation Empty Re: What a worse performance plantation Tue Jul 30, 2013 10:59 am

nirowat


Manager - Equity Analytics
Manager - Equity Analytics
forget above !

wrong report. looking worried now

9What a worse performance plantation Empty Re: What a worse performance plantation Tue Jul 30, 2013 11:15 am

Jana1


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@slstock wrote:I am guessing KGAL,NAMU,KVAL  might be some of the other very few who might end up with positive earning this quarter.


@aero wrote:I think this is the indicator for all other plantation companies situation...
(specially tea plantations)

If any investor who sells at high and buys at low (other than dividend investor) then he should worry about the sector. Most plantation companies will start its rally once plantation rally started. It is very rare one plantation company move whilst others stagnate. Since plantation had its kick on head, it doesn't matter whether the above make profit or loss. Rally or upward price movement may not be possible. If plantation share price fall, most of them will fall irrespective of the report....

Kgal is very cash rich company, even its cash position is equal to its share value.. But its trading at very cheap and it will trade for a while at this price....

10What a worse performance plantation Empty Watawala Plantations Tue Jul 30, 2013 1:35 pm

Udith Fonseka


Equity Analytic
Equity Analytic
Their most recent earnings report released today is not that bad.
It has been well known for 2-3 months how much rain there has been in Hatton and the effect on tea production/costs. Yes they lost a fair bit of money in tea and made nothing in rubber but the news is not all bad.  They managed to keep their debt down while still planting/replanting a lot of Palm and rubber acreage. And they have kept their pension obligations under control.And they are due a good sized insurance payment from that huge rainfall. Yes some other plantations may do worse--let us hope that the few that are still nearly all tea, have  estates in the low country that hopefully will not be so badly effected as the hill country ones have.
Sunshine did reduce their holdings but did people notice to whom?
Answer-----The Archer-Danial Midlands/Wilmar group---By far largest food processor/trader in the world.
 This connection to such a large multi-national company that has the expertise and contacts that ADM/Wilmar has,may really benefit Watawala!

11What a worse performance plantation Empty Re: What a worse performance plantation Tue Jul 30, 2013 2:15 pm

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@ccsentha wrote:
@rainmaker wrote:SUN sold out of this. Just in case any of you trying something funny. No selling now ok. Just walk to exit don't run ....... otherwise

hat do u mean buddy?

Estate management services is no longer owned by SUN. It was sold to Pyramid Wilmar

12What a worse performance plantation Empty Re: What a worse performance plantation Wed Jul 31, 2013 2:30 pm

aero


Manager - Equity Analytics
Manager - Equity Analytics
@slstock wrote:I am guessing KGAL,NAMU,KVAL  might be some of the other very few who might end up with positive earning this quarter.


@aero wrote:I think this is the indicator for all other plantation companies situation...
(specially tea plantations)
KVAL also same prob
http://www.cse.lk/cmt/upload_report_file/712_1375239656.pdf

13What a worse performance plantation Empty Re: What a worse performance plantation Wed Jul 31, 2013 2:32 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

Note am taking about positive earnings( even if marginal). KOTA also may have a chance.
.

@aero wrote:
@slstock wrote:I am guessing KGAL,NAMU,KVAL  might be some of the other very few who might end up with positive earning this quarter.


@aero wrote:I think this is the indicator for all other plantation companies situation...
(specially tea plantations)
KVAL also same prob
http://www.cse.lk/cmt/upload_report_file/712_1375239656.pdf

14What a worse performance plantation Empty Re: What a worse performance plantation Wed Jul 31, 2013 3:15 pm

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
You have to stay away from plantations .... fear them like the plague

Firms are good but market sentiment is really bad these days. It's only good if you are looking at a 3 year investment horizon

15What a worse performance plantation Empty Re: What a worse performance plantation Wed Jul 31, 2013 3:16 pm

The Alchemist


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@rainmaker wrote:
@ccsentha wrote:
@rainmaker wrote:SUN sold out of this. Just in case any of you trying something funny. No selling now ok. Just walk to exit don't run ....... otherwise

hat do u mean buddy?

Estate management services is no longer owned by SUN. It was sold to Pyramid Wilmar

@ Rainmaker - Incorrect. SUN only part-sold EMSPL to Wilmar (17.85 %). They still hold 33.15 %.

Please refer disclosure -

http://www.cse.lk/cmt/uploadAnnounceFiles/5301370605233_.pdf

16What a worse performance plantation Empty Re: What a worse performance plantation Wed Jul 31, 2013 3:33 pm

Jana1


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@slstock wrote:
Note am taking about positive earnings( even  if marginal).  KOTA also may have a chance.
.

@aero wrote:
@slstock wrote:I am guessing KGAL,NAMU,KVAL  might be some of the other very few who might end up with positive earning this quarter.


@aero wrote:I think this is the indicator for all other plantation companies situation...
(specially tea plantations)
KVAL also same prob
http://www.cse.lk/cmt/upload_report_file/712_1375239656.pdf

I would expect Kota to come around 40 by December... But in two years, it will be a massive rubber plantation company along with palm oil. No wage hike for every two years- They nicely planned for escape route....

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Watawala Plantations PLC (WATA) – a member of the Sunshine Group, has posted a 14 percent growth in revenue (YoY) to report Rs. 1.5 billion for the first quarter ended June 30, 2013. WATA posted a PAT of Rs. 11.4 million, down 92.3 percent compared to a PAT of Rs. 147.5 million posted during the same quarter last year.  "In a wage impact year, contrasting unhealthy weather pattern, which prevailed during the 1st quarter, was the most critical factor impacting profitability," the company said in a statement releasing its interim financial results.

Strong Palm Oil performance has mitigated the severe loss in the Tea segment, which was largely driven by one of the worst weather conditions during the 1st quarter of the FY 2013/14.

The wage increase coupled with additional provision for gratuity both came into effect from April 1st2013, had a significant impact on the cost of production across all crops.

Tea production was significantly affected by the continuous rains experienced in the upcountry area resulting in a higher cost of production. During the quarter under review, in the Hatton/Watawala/Lindula regions, the average number of wet days recorded were 59 days and the rainfall was recorded at 1,950 mm.  In comparison, for the same period last year (YoY) the wet days was 28 days and the rainfall was recorded at 1,212 mm.

The production of palm oil grew by 14 percent YoY despite adverse weather conditions, a result of excellent agricultural practices which are in place today.  Despite a 14 percent increase in production, revenue increased only 4 percent due to fluctuating Crude Palm Oil prices.  Palm Oil is the highest contributor to the Group’s profit, posting a profit of Rs. 146 million against Rs. 163 million during the same period last year.

The present market for Palm Oil shows an improvement.

The tea sales grew by 13 percent to reach Rs. 1.0 billion compared to Rs. 919 million recorded in the first quarter of 2012/13 backed by higher sales volumes recorded in the current season.  The wage/gratuity impact along with the adverse weather conditions had a significant impact on the cost of production of tea. Thus, tea sector recorded a loss of Rs. 156 million as against the loss of Rs. 8.2 million for the same period last year.

Rubber recorded a loss of Rs 11.9 million in Q1 2013/14 compared to a profit of Rs 1.1 million during the first quarter of the previous financial year.  This was primarily due to lower production due to continuous rains, which prevailed from mid of May 2013. The productions of rubber dipped 39 percent YoY.  The rubber prices have dropped by LKR 53/kg compared to same period last year.

A member of the Sunshine Enterprise, Watawala Plantations PLC is a diversified plantation company in Sri Lanka, managed by the Group’s subsidiary, Estate Management Services Pvt. Ltd., a joint venture with the TATA Global Beverages Ltd. The company manages a total land extent of over 12,000 Ha in Palm Oil, Tea & Rubber with a workforce of approximately 12,000 people.  The company has the largest Palm Oil plantation and the largest Rubber factory in Sri Lanka to augment the production of more than 9 million kgs of Ceylon tea annually.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=84783

18What a worse performance plantation Empty Re: What a worse performance plantation Thu Aug 01, 2013 12:03 pm

aero


Manager - Equity Analytics
Manager - Equity Analytics
crossing...
WATA 49Mil
SUN 13Mil

19What a worse performance plantation Empty Re: What a worse performance plantation Thu Aug 01, 2013 4:49 pm

celtic tiger


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
It's the start of the bad earning cycle for plantations.Only hope for the plantations is oil palm-I think.people who case behind MASK and TPL will loose lot.

20What a worse performance plantation Empty Re: What a worse performance plantation Tue Aug 06, 2013 1:37 am

aero


Manager - Equity Analytics
Manager - Equity Analytics
TPL
http://www.cse.lk/cmt/upload_report_file/726_1375696980.pdf

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