Comments about Arab International Logistics FY 2006 results
04 April 2007 update: AGM postponed to 16 April 2006 from 03 April 2007 (no quorum). Time and venue for AGM 5pm at Sheikh Rashid Hall in the Dubai World Trade Centre.
14 March 2007 update: Press release says 2005 revenues AED 854m, SCA disclosure says 2005 revenues AED 459m. Audited 2005 report from SCA has revenue as AED 458,904,000. Looks like it might have been a typo in the press release? No mention of dividends seen. Using the 2005 revenue figure from the disclosures, get an almost 200% increase from 2005 to 2006, ie Revenue has almost tripled.
Operating Profit was up significantly but didn't quite triple, however Net Profit was only up 28%? Presumably some money went towards expansion costs. That's what could have been explained in the press release, or summary in disclosure (there was nothing). But Net Profit figure for 2005 FY changed from AED 74.4m in press release to AED 51.2m in financial statements so 28% increase doesn't make sense.
PE is still high at 25, most other stocks well below 20 now. And growth in returns is not that much - return on revenue was half what it was in 2005.
30 January 2007: DFM disclosure doesn't open, no disclosure on ESCA site, figures taken from press release. Company tel +971-4-2865000 on main info page, press release tel +971-4-2118300.
Have your say in the ARMX 2006 FY results forum topic, includes directors reports and news, if available.
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