Stirring.....

I have been trying to find analyst reports on Hafary but without success. This business is not, at first glance, an exciting one, but the profit track record makes me sit up and take notice. In addition, recently, they sold an entire industrial project for a one-off profit (one-off becos it is not their core business).

NextInsight has a recent story: HAFARY wins outsized property gain, FORTUNE REIT to acquire 2 HK properties

After a long lunch meeting, I checked just now and saw the counter today has already 444,000 shares traded compared to usually NIL. The price is unchanged at 25 cents.

Oh, the BT article is avail on the Net: http://www.businesstimes.com.sg/sub/companies/story/0,4574,455340,00.html?

I never imagined a tile distributor can make so good profit. Hafary is worth tracking.

At the price of 25 cents, it is v attractive – but can it sustain its profitability ??? That’s what I want to know…..

For FY2011 ended June, Hafary’s revenue shot up 57% ---> $60.4 m

Net profit up 125% ---> $6.8 m

Net profit margin = 11.2%.

Dividend ---> 0.9 cents in FY11, more than double the 0.4 cents in FY10.

Dividend yield now is so-so, nothing to shout about ---> 0.9 divided by 25 cts = 3.6%

A friend Sms me, said there is a glowing article in BT today on Hafary. Anyone can copy and paste the text of the article?

Dead on the water despite strong profits. No analyst coverage. No IR activity.

Net profit for FY11 ended June was up 130% to $7.5 m.

Hafary said it was confident of strong FY12

My broker asked me to consider Hafary. Stock is strong, near 52-week high. The 25K HDB flats this year and 25K next year will need a lot of tiling, sanitary ware, etc.

Hafary is the No.1 in this. Surely, this is a defensive stock. and Growth Stock too!


Bad news recently about over-stating profit has had small effect. The US & Euro storms have not shaken this Hafary.

Just noticed, it's now at 28 cents. Volume of 220,000 -- not bad, in this bad market. Will Hafary touch 30 cents again?

Minus 4.5 cents  at 28.5 cents. Low volume.
The stock will be up again cos ......there are bb who luv it

Unintentional --- human error -- Hafary overstated proft for half-year. Shld be $4.8 m instead of $6.4 m.

But I don't understand their explanation about 'costing errors' --- means they input a lower cost to certain inventory? Then recognised a higher profit than shld be the case?

Hafary: .....the unaudited financial statements set out in the Half Year Announcement would need to be restated. The profit before income tax for the Company and its subsidiaries (collectively referred to as the “Group”) stated in the Half Year Announcement amounting to S$7,742,000 is incorrect and should amount to S$5,806,000. The Group’s profit, net of tax, should be S$4,818,000 as compared to the previously reported amount of S$6,425,000.

Starting to take note of this Hafary. Went up again yesterday by 1 c to 33 c.

Seems like there is strong support. Strong push up. And this, after a substantial shareholder sold nearly 2 m shares a week ago at 23 cents (around there). That unlucky lady --- missed out a few  dollars.

Today 35?

How high can it still go? Today closed +2 cents = 32 cents. In excelelnt 1H, Hafary earned 3.9 cents a share. Double that = 7.8 cents a share for the year ended June 2011.

Therefore, the PE is 32 divided by 7.8 = 4.1X.

Very cheap. But have to be conservative. So I assume 7 cents a share in earnings = PE of 4.6X.

So far only 1 story on Nextinsight.

HAFARY: Sizzling 237% profit growth in 1H, more to come?

Dull business of trading in wall tiles and other renovation materials -- how come so profitable? Anyone knows the Hafary bosses well?

in the past 4 trading days, has shot up from 23.5 cents to 30 cents today. Volume is decent. Today at 1.2 m shares done. It used to be a fat zero for volume in the past 1 year. In other words, something's brewing.

Yesterday, SS Audrey sold 1.7m shares in married deal. Who bought from her?
Today, stock is up 17%.  Why?

One-day wonder? Cheong yesterday. Kana SGX query, Limp today.