NMDC 2007 Q3 profit AED24m -54%

[sharewadi]

NMDC 2007 Q3 profit AED 24m -54%, M9 110m +861% 13 Nov 2007

NMDC 2007 Q3 report
NMDC 2007 M9 report

National Marine Dredging Company (NMDC) profit figures for third quarter 2007 are (EPS annualised in brackets):

2007 Q3 profit = AED 23.7m -54.4% from 2006 Q3, EPS = 0.14 dhs (0.56 )
2006 Q3 profit = AED 51.8m, EPS = 0.31 dhs
2007 M9 profit = AED 113m +861.1% from 2006 M9, EPS = 0.67 dhs (0.89 )
2006 M9 loss = AED -14.9m, EPS = -0.09 dhs

EPS figures calculated from Net Profit / 169,000,000 shares outstanding.

NMDC share price at close on 13 Nov 2007 was 5.94 dhs, so 2007 estimated PE is about 5.94 / 0.56 = 10.6, based on Q3 earnings, which is somewhat lower than the average market PE of about 16. 2007 PE estimate based on M9 earnings is 5.94 / 0.89 = 6.6, which makes shares look cheaper.

Other result and related topics

NMDC 2007 H1 profit AED 89m +234%, Q2 profit AED 57m +373%
NMDC 2007 Q1 profit AED 33m +171% from 2006 Q1 loss
NMDC 2006 FY AED 71m loss changed to AED 44m profit

NMDC AED 26m island reclamation and dredging project - 19 June 2007

ADSM 13 November 2007:

National Marine Dredging Co. board of directors' report on the 3rd quarter, 2007 financial results 13/11/2007 National Marine Dredging Co. discloses financial results for 3rd quarter, 2007

ADSM 08 November 2007:

National Marine Dredging Company (NMDC) discloses summary financial results for 3rd quarter, 2007 08/11/2007

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