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Haike Chemical - Q1 results

June 2007

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Haike has announced blistering Q1 results,which at first glance, with eps of 14 cents (7p), suggest that the group is going to have a pop at making next year's numbers in the current year. That said, broker Hanson Westhouse has yet to upgrade its forecast from 19.1p for the current year and 33.7p next with the broker anticipating an upgrade following Q2 results. Overall, revenues for Q1 were up 28% to US$74m with pretax profit up 222% to US$5.8m. There was quite a change in revenue mix and margin during the year, with overall margin up from 7.2% to 12.1%. The reasons for the margin improvement were apparent on both sides of its business. On the refinery side, Haike has already invested US$5m in the first expansion phase ...

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