Expected Result announcement date:25/26 June 09(Refer to Bloomberg Terminal)
Target Price :RM 4.80- 5.00 (within two weeks and one month)
Accuracy : 90% Should beat analyst expectation....RHB rated the shares at RM4.40
Expected EPS : 65 sen
Expected Dividend : 30-40sen per share
Gearing: Net Cash
Hai-O sees growth despite slowdown
Aggressive marketing, MLM to help boost sales
KUALA LUMPUR: Hai-O Enterprise Bhd, a wholesaler and retailer of Chinese herbs and medicine, expects to achieve 10% growth in revenue this year despite the global economic slowdown.
Managing director Tan Kai Hee said the positive outlook was based on the adoption of an aggressive marketing strategy and support from its multi-level marketing (MLM) division.
“We will make use of our existing marketing tools and put in more budget for advertising and promotion (A&P) activities,” he said after the signing of a sole distributorship agreement between Hai-O and Yunnan Baiyao Group Co Ltd yesterday.
The company allocates about RM5mil a year for A&P activities.
For the financial year ended April 30, 2008, Hai-O’s revenue jumped 97% year-on-year to RM373.8mil, of which 70% came from the MLM division.
For the nine months ended Jan 31, its revenue rose to RM302.33mil from RM240.27mil in the previous corresponding period.
Tan said the company was still positive on its growth although it expected to see a decline in consumers’ purchasing power due to the recession. “We will make more aggressive efforts to achieve it,” he said.
He said Hai-O hoped the strategic alliance with Yunnan Baiyao, a traditional Chinese medicine manufacturer, would boost the company’s long-term commitment to helping Malaysians pursue a healthier lifestyle.
Under the agreement, Hai-O would be responsble for the introduction of 19 Yunnan Baiyao and Yun Feng brands of products.
Tan said the products would be introduced to the local market in the second half.
“Besides Hai-O’s 60 chain stores and major Chinese medical halls nationwide, the products will also be sold at hypermarkets and major pharmacies,” he said.
Yunnan Baiyao overseas business general manager Wei Bo said the company was confident its products would be well-received in Malaysia.
“This is a long-term partnership with Hai-O and we expect to record yearly sales of RM10mil from the Malaysian market,” he said. — Bernama
財報開講預期與券商相近海鷗財測獲維持（吉隆坡17日訊）海鷗（HAIO，7668，主板貿易）管理層預期今年營業額將成長10%，與券商預測相近，維持跑贏大市評級。
海鷗董事經理陳凱希昨日指出，透過積極的分銷策略和多層次傳銷（MLM）網絡，海鷗現財年營業額料可按年成長10%。
過去海鷗營業額按年增長20%，但如今市場消費放緩，才將預測收小至10%。
興業證券研究在報告中指出，上述預測與該行預測海鷗本財年營業額增長率將達9.6%相近。
“但由于19項新代理產品的詳情不明確，因此我們未將其貢獻納入財測考量。”
不過，該行仍維持海鷗“跑贏大市”投資評級，合理價4.40令吉。
海鷗全日窄幅波，走勢介于跌2仙至4仙之間，相等于4.16至4.18令吉。
閉市時，海鷗報4.18令吉，跌2仙，成交量8萬3300股。
不過，海鷗稍晚針對媒體報導公司作10%增長率的預測，向馬交所報備指出，這是公司內部設定的目標，並不是有意作出的財測
海鸥企业直销部门 可获按年成长
二零零九年四月二日 晚上十一时三十分
（吉隆坡2日讯）据艾芬投资银行透露，海鸥企业有限公司（HAIO，7668，主板贸易服务组）的多层次直销销售预料将在2009财政年取得5.4%按年成长。
它在一份研究报告中指出：“这促使我们提高该公司2009财政年的净收益预测12%，以及2010和2011年升幅各为12.9%和13.4%。”
艾芬投资银行称，该公司成功从大马人口所有主流领域取得成长。
它说：“尽管在缓慢经济环境中，主要重估催化剂是来自高周息率及收益弹力。”
艾芬投银表示，继08年9至10月大幅下滑后，海鸥企业的多层次直销部门将可能获得改善。
多层次直销部门贡献海鸥企业2009年第2财季总收益的76%，及在2008财政年占了75.3%。
该投资银行认为，海鸥企业的股息政策将维持在50%。
美元影响减弱
与此同时，兴业研究则维持对海鸥企业跑赢大市评级不变，因该公司仍可在2009年减低美元的影响。
在其研究报告中，它说，在2008年，公司约60%商品是以美元计算，比较目前只有40%。
这主要是因为批发部门的低需求，及消费购买力已从瘦身产品转至过滤器。
兴业研究补充：“我们预料美元每加强1%，将导致其09至11财政年的收支平衡下滑1.2至1.3%。”
该研究公司已上调海鸥企业2009财政年的预测2.5%，以反映出批发部门高于预测的贡献。
不过，它却下调该公司2010至2011财政年预测5.6至6.3%，以反映出疲弱消费开销产生的低分销商生产力。
它说：“我们有信心海鸥企业可达到其最低50%股息派发政策，这可转为2009财政年7%的净周息率。”
净利大唱丰收
此外，该集团业绩大唱丰收，在截至2009年1月31日为止有待审查的9个月业绩中，所获得净利由去年的2955万1000令吉挺涨至3648万令吉。
该公司的税前盈利也告增加，由一年前的4128万9000令吉扬升至5258万2000令吉。
在营业额方面，由前期的2亿4027万4000令吉增至3亿零233万1000令吉，而每股收益由去年的40.07仙挺至44.56仙。
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