Goldenport Share Discussion Threads

[dixies] 02/3/2008 18:24

I also noticed that puku but on closer inspection IC have used 22 cents for the full year dividend whereas it should be 22p! That of course approximately doubles the yield which is now the historic yield. At least they had a buy rating.

[puku] 02/3/2008 16:28

Slap - one query you say yield up to 8 % but IC says current yield 3.1% ?

[slapdash] 29/2/2008 22:08

Courant - Have a listen to the webcast..this basically said they never buy ships without having some routes/company agreements for them to go on... i.e. to mitigate risks...... also i think a director bought a fair amount of stock a while ago.. I think it was about 100k to 300k...

what other holdings do you have?????

On more ships - well I think that hopefully makes the company seen as more of a growth one and not a cyclical one. Also reduces my worry that we are seeing peak earnings. So you can see it as a risk or an opportunity for them... appears like a balanced company given the two types of ships it has..

I have to admit I haven't drilled down in such detail into each company. I will have to do some more research but really I have just bought a bit of each. I had imagined that these would do best given the size and forward bookings....

I am a bit tied up but will try to catch up on some research sometime..

slap

[courant] 29/2/2008 20:40

I'll also add that the guys running GPRT clearly have a lot of experience, so what do I know?!

Courant

[courant] 29/2/2008 20:39

slap,

Just had a brief look here and the one point that concerns me is the number of ships on forward order. 6 bulkers and 2 containers. That's a reasonably significant future commitment, given the over-supply concerns that may be present in the dry bulk market (this applies less to the containers, but then ship values there are lower so it's less an issue). 2 of the bulkers are due at the end of this year, fine. But 4 are due Q4 2009 (maybe into 2010 with some slippage), just when rates might be looking shaky... I'm not particularly comfortable with that. It's a risk that might pay off, but I prefer to see lots of cashflow now (e.g. GLBS!), which acts as an insurance policy for the future.

On the plus side, GPRT are making good money and their income (with the containers) is fundamentally more diversified. I need to look at the container market a bit more to draw an fuller opinion, but for the time being I'll stick with GLBS & GOC.

Courant

[slapdash] 29/2/2008 17:33

IC did a buy update I think on this and updated their tip.. but little volume..

hmm...... wait for divi and then see what happens.... slap

[slapdash] 28/2/2008 08:30

well am suprised ... forward P/E of 6.6X and yield of 8% and then for hte year after forward p/E of 5.5 adn yield of I think 9.5%... and no buyers... it will come... patience.. things are supposed to be great value when the P/E is less than the yield and the company is growing...... i.e. the case here... i think one tip or brokers note will wake this up abruptly..... we shall see......... might be in Chronic Investor tomorrow..... slap

[slapdash] 27/2/2008 14:54

here we go ... no doubt an analyst note or something out.. lets hope it continues and price up to £4...slap

[m4m] 27/2/2008 13:24

Here is the link

[slapdash] 26/2/2008 16:01

just listening to presentation.. appears impressive.. go to website for goldenport to log onto presentation..slap

[slapdash] 26/2/2008 08:24

teh following surely makes good reading it is all a matter of sentiment and valuation:

Goldenport Holdings FY net income up 29 pct; confident on outlook for 2008




LONDON (Thomson Financial) - Goldenport Holdings Inc reported a 29 pct
increase in its full-year net income on a 37.7 pct rise in revenue and said it
remains confident on the demand outlook of the container and dry-bulk markets
for 2008.
The company posted net income of 58.3 mln usd for the year to Dec 31 2007
from 45.2 mln a year earlier. Revenues rose to 124.9 mln usd from 90.7 mln in
the same comparison.
Goldenport Holdings raised its final dividend to 15 pence per share from
11.9 pence last year, taking the total dividend payout to 22 pence, up from
previous year's 17.5 pence per share.
The company reported a 40.3 pct increase in its EBITDA to 77.0 mln usd from
last year's 54.9 mln.

[slapdash] 26/2/2008 08:20

fairly muted reaction to resutls... I guess we had most of the move before hand as these were well flagged.... but I would hope in coming days these might edge up.... all is sentiment... show me where else you can get a stock on 6.6X with a forward yield of 8% and where these figures are pretty much certain due to forward sales..... and the main driver for the company - freight rates - moving up.... but of course it is not my opinion it is up to the market how it rates the stock..

slap

[18bt] 26/2/2008 07:48

4.2% yield on the final dividend.

Results broadly in line: v slightly disappointing operating days, but potential for slightly increased forecasts, especially in 2009 as new ships come on stream at current attractive rates.

[slapdash] 26/2/2008 07:45

HOLD FOR A YEAR AND GET A DIVIDEND YIELD OF 12%!!!!

well ship mates.... final dividend about 4.2%.... and full year dividend about 6.1%...... but it I think future for the current year is much higher...

eps I think of 41.5pence...... but again forward figures should be much higher.. that is inline with forecasts.... key is the coming year when according to my forecasts they are supposed to generate 57penece and so the forward P/E is about 6.6X

coming year results are pretty much guaranteed due to lock ins... I am guessing current year will have a payout of about 50% as that is their policy so with predicted eps of 57pence dividend will be 28.5pence which gives a forward yield of 8%... so hold for jusut over a year and get 14% in dividends.... not bad...

Key going forward is sentiment and frieght rates which have been bouncing up recently and other shipping companies have had good share price performances.. if freight rates go to all time highs again this will fly... and they appear to have found a bottom and to be on the way up.. apparently global trade growing at 9% a year so demand massive.... i.e. increased imports of grains and things to China

this is more lowly rated that foreign shipping companies but then we don't have the same sector in the UK so difficult for investors to understand... however, it is the only fully listed shipping company I think in the UK -others on AIM - so may do well...

It is a tough call but with the high forward yield of 8% and the low P/E of 6.6X I think this is value as despite it being in a cyclical sector it has great forward visibility... i.e. in fact we pretty much know what 2008's results will be.... and 2009 should be increasingly locked in in the months ahead....


slap

[nurdin] 25/2/2008 20:31

yup Id agree.A huge divi in the offing too :o)

[cockneyrebel] 25/2/2008 20:14

Bought back in today. Results will be interesting, GOC are screaming cheap after their recent results and GPRT look like they could be even cheaper.

CR

[volvo] 25/2/2008 20:10

All will soon be revealed

[slapdash] 25/2/2008 15:20

I read somewhere that the yield would be something like 10-12%... but I assume they must have got that wrong or that is for 2008... but who knows... yield this here will no doubt be in high single digits...

slap

[volvo] 25/2/2008 15:08

Well in profit already.Would assume if the results are as indicated this is a 4.00 certainty.

[slapdash] 25/2/2008 10:33

welcome aboard me shipmate...... slap

[volvo] 25/2/2008 09:50

In for the results.

[slapdash] 25/2/2008 09:18

life in the old dog yet... slap

[slapdash] 21/2/2008 13:55

well I thought this would of moved up on Goc's results... but appears to be some selling...

results Tuesday next week I believe..

slapper

[slapdash] 21/2/2008 08:11

stock doing ok here are results coming up... GOC appear to have done well on results.... all depends on freight index I guess..

slap

[nurdin] 30/1/2008 10:11

Lovely jubbly...:o)