Net Profit at Goodpack Up 13.4%

goodpack logo Home-grown and the world’s largest provider of returnable and environmentally-friendly Intermediate Bulk Containers, Goodpack Limited (SGX: G05), posted a 7.7% rise in revenue for Financial Year 2013 (FY2013) to US$190.9 million The revenue rose on the back of “new customers conversion and increased demand from existing customers in the non-rubber and synthetic rubber sectors which grew by 18% and 13% respectively.

The net profit for FY2013 ballooned 13.4% to US$51.3 million from US$45.2 million in FY2012. The net profit margin was at 27.3%, an improvement of 0.6 percentage points from the previous year.

The earnings per share for FY2013 is at 9.55 US cents, an improvement of 4.9% from FY2012.

As of 30th June 2013, the balance sheet carries $297.8 million of total debt and $228.9 million in cash. This translates to a net debt figure of $68.9 million.

Net cash generated from operations in FY2013 was at $46.7 million versus $43.1 million in the previous year. However, capital expenditure of $111.5 million gave rise to a negative free cash flow of $64.8 million.

The company said it remains focused in managing logistics & handling expenses, foreign exchange and interest rates volatility and is expanding into new geographical regions such as South America and Russia.

The company declared a total dividend of 5.0 Singapore cents per share, which includes a special dividend of 3.0 Singapore cents per share. This is unchanged from the one paid out last year.

The shares closed at $1.54 on 27th August 2013. The PE ratio stands at 12.6 and the dividend yield is at 3.2%, including the special dividend.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice.  Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.