May 11- SPC 2012

SPC 2012

Out.shares                     1,496,551,803

MarCap                         8,260,965,952.56 


4.110 billion pesos          -Equity attributable to parent company

1.569 billion pesos          -Capital

86.80 million pesos         -Add-in capita

1.785 billion pesos          -Retained earnings

800 million                     -(Appropriated)

5.760 billion pesos          -Assets

2.211 billion pesos          -Total current asset

1.344 billion pesos          -Cash and cash equivalent

1.388 billion pesos          -Liabilities: (597M is Dividend- paid)

Revenue:

2.376 billion pesos          -2012

1.704 billion pesos          -2011
% change: 39.4 %

Net Income:

996.6 million pesos         -2012

419.7 million pesos         -2011
% change: 137.5%

closing price 10-05-2013: 5.25 pesos
EPS : 67 centavos
P/E : 7.84x

B/V per share: 2.75 pesos

Price to book value:1.55x

Forward conservative PE at 17

TP- 17 X 0.67 = 11.39

Current price to TP: 117% upside

Note:

Cons: very small shares floating, liquidity problem, wide spread of bid and ask

Pros: Fit for long term investment, poise to acquire Naga plant coming Bidding by PSALM

Other notes:

Return on Equity:           24.2%
Return on Assets:          17%
Net income margin:        42% 

Current ratio:                1.98 
Debt-to-equity:              0.34   

Dividend Yield:               10%