BILDCO 2008Q4 profit Dh12m -53%

[sharewadi]

BILDCO 2008 Q4 profit Dh12m -53%, FY 92m +60% 28 Jan 2009

BILDCO 2008 Q4 report
BILDCO 2008 annual report

Abu Dhabi National Company for Building Materials (BILDCO) profit figures for 2008 Q4 are (EPS annualised in brackets):

2008 Q4 profit = AED 12.2m -53.3% from 2007 Q4, EPS = 0.04 dhs (0.16 )
2007 Q4 profit = AED 26m, EPS = 0.09 dhs
2008 FY profit = AED 92.3m +60.3% from 2007 FY, EPS = 0.31 dhs
2007 FY profit = AED 57.6m, EPS = 0.19 dhs

EPS figures calculated from Net Profit / 300,000,000 shares outstanding.

BILDCO share price as of 28 Jan 2009 was 2.40 dhs, so 2008 estimated PE is about 2.40 / 0.16 = 15.0, based on Q4 earnings, which is higher than most other companies so far, however 2008 PE based on FY earnings is 2.40 / 0.31 = 7.8, which is cheaper looking, although still more expensive than other stocks. Which makes sense since Bildco shares haven't plummeted as much as other stocks in the past few months. Fourth quarter earnings are the lowest since Q3 in 2007 when Bildco profit was just AED 1.2m. Question is, where will they go from here? With a relatively high PE, and PBV still close to 2 for Bildco, there are much cheaper shares to be found in Abu Dhabi at present.

ADX 28 January 2009 (during trading):

(BILDCO) Abu Dhabi National Building Materials announces preliminary annual financial results for 2008 (BILDCO) Result of Abu Dhabi National Building Materials board meeting

Other result and related topics

2008 Q4 Abu Dhabi result list

BILDCO 2008Q3 profit AED 27.7m 22 Oct 2008
BILDCO 2008Q2 profit AED 36.2m 09 Jul 2008
BILDCO 2008Q1 profit AED 16.2m 24 Apr 2008
BILDCO 2007FY profit AED 57.6m 06 Feb 2008
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