Update On Spritzer

Saw the following article on the Edge Financial Daily: Spritzer posts 57.3% rise in net profit in 4Q

• Spritzer posts 57.3% rise in net profit in 4Q
  Written by Financial Daily
  Tuesday, 27 July 2010 11:02
  
  KUALA LUMPUR: Spritzer Bhd saw its net profit rise 57.3% to RM3.13 million in its fourth quarter (4Q) ended May 31, 2010 from RM1.99 million a year earlier while revenue rose 36.2% to RM38.36 million from RM28.16 million.
  
  In its results announcement to Bursa Malaysia Securities yesterday, the mineral water distributor said the positive numbers were due to higher sales in various bottled water products. Earnings per share was higher at 2.39 sen from 1.53 sen previously.
  
  Meanwhile, full-year earnings were up 54.4% to RM12.54 million from RM8.12 million while revenue was 21.6% higher to RM131.64 million from RM108.25 million previously. Cumulative earnings per share was 9.6 sen from 6.22 sen.
  
  Net assets per share for FY10 stood at RM1.05 from 97 sen previously. Spritzer proposed a first and final tax-exempt dividend of 2.5 sen.
  
  Going forward, the company believes it can capitalise on increasing public health and safety awareness and that it would be able to tap into the large market in the country’s central region following the commencement of operations of its new bottling plant in Shah Alam in 4QFY10.
  
  “The total bottling capacity of the group will gradually be increased to 200%,” it said, adding the increased capacity would make its investment rewarding in the long run.
  
  Spritzer shed three sen yesterday to close at RM1.07 with 150,900 shares traded.
  
  This article appeared in The Edge Financial Daily, July 27, 2010.

I was like... err.... so good, meh?

I had blogged on Spritzer previously in May 2010: Spritzer Massive Capex. (ps: do you like the Spritzer Pop? )

Anyway, I have to admit the results is decent.. but... that 57.3% increase sounds a bit too... err... glorified. :P

Here's Spritzer's earnings... best you be your own judge.

Here's Spritzer 5 year stock performance chart.


ps: I don't dunno.. so dun ask... LOL!

ps: Spritzer last traded at 1.12.