FJ Benjamin Posts Record Earning

FJ released its FY07 results today. Here are the highlights:

1. Net Profit more than doubles to $21.5M. (110% increase)

2. Directors propose return of 13c a share to shareholders through $74M Capital reduction. This is possible because of the group’s strong cash position!

3. Record Dividend of 3.5c per share for the Full Year. If approved, will be paid on 30 Nov to shareholders registered in the books on 15 Nov.

4. Earning per share (EPS) increased to 5.69c from 3.53c, an increase of 61%!

5. Net asset value per share rose to 37.88c in FY07 from 30,53 in FY06.

6. From CEO Nash Benjamin ‘We not only exceeded our financial objectives, we also extended our leadership in the fashion industry’

7. Looking forward, 47 stores are scheduled to open for the new financial year. Retail area will increase by 56% to 358,000sq ft in FY08.

Personally, I am very bullish about the company’s growth and future. With increase in tourism and strong economy growth, there is no reason not to accumulate its shares.
So, when is a good time to cash out the shares? At the present outlook, never; Unless there is a significant change in what the company is doing now, or a dramatic change to the management team.
If you have vested, Congrats! Thanks to the Sub-prime woe, the share price is really cheap. Barring any hiccup from US market tonight, the shares should continue from the 10% gain today.

Disclaimer: All shares recommendations in this Blog are my personal opinion. Readers are encouraged to do their own research before investing. Remember, it’s your own money! I will not be liable for any losses incurred.