Blue Powered huge profit increase

A Junior Market stock should hit the roof next week as the company Blue Power not only reported record profits, it blew away last year’s results with a stunning 121 percent increase as revenues rose by just 22 percent for the year ending April.

Profits for the financial year stood at $104 million compared to $47 million in the same period last year, an increase of 121 percent. The Lumber Depot division contributed $61 million to the profit, improving by 111 percent over the previous year while the soap division accounted for $43 million, an improvement of 137 percent over the previous year.

The results translate to return on equity of an attractive 35 percent up from 21 percent in 2012. The net asset value is $6.11 and the stock price of $8.65 is less than 1.5 net book value.

Combined sales for the year ended April, 2013 were $1.045 billion compared to $863 million in 2012, an increase of $182 million or 21 percent. For the year, the Lumber Depot division achieved sales of $742 million versus $620 million the previous year, an improvement of 20 percent while the Blue Power soap division moved to $303 million from $243 million, an increase of 25 percent.

BluePower150x150April quarter | For the fourth quarter sales rose to $339 million compared to $224 million for the same period last year, an increase of $115 million or 51 percent. Comparing the fourth quarter with the same period last year, the increase in sales for the Lumber Depot division was 77 percent, from $156 million to $276 million while sales for the Blue Power soap division actually declined by 6 percent.

Revenues for the 4th quarter was by far the best of any of the quarters with the December quarter coming closet with revenues of $267 million. The percentage revenue increase was also the best with a 13 percent increase in the December quarter coming closest. The latest quarter profit was the highest of any quarter with July and December quarters coming closest at $24.7 million and $23.2 million respectively.

Management’s comments | In commenting on the results, management said “The extraordinary enhancement in both sales and profits in the Lumber Depot division was due to two main factors: the first and most important being the award of a significant supply contract by an international agency and the second being the strategic management of our purchases of materials for resale. The overall increase in sales and profits of the Blue Power soap division was achieved largely as a result of a significant increase in sales of bathing soaps which are slowly but surely gaining acceptance in the market place.

As a result of the substantial improvement in profits, our balance sheet is healthy which will allow us to expand as well as be in a position to make adequate purchases of materials for resale and raw materials for manufacturing at reasonable prices.”

The company’s finances is in a healthy position with virtually no debt. Current assets of $390 million of which cash is $145 million up from $58 million in 2012. Current liabilities is $88.5 million.

Investor’s Choice is forecasting 2014 earnings close to $3 per share.

Update Wednesday 19th June | The Board of Directors of Blue Power Group Limited will meet on Thursday, June 27, 2013 to consider the payment of a dividend.

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  1. […] Related Posts | Blue Power dividend | Blue Powered huge profit increase […]

  2. […] Blue Power Group Limited declared a dividend of 15 cents per share payable on August 16, 2013 to shareholders on record as at July 31, 2013. The ex-dividend date is July 29, 2013. […]

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