Better outlook for Starwin in Q2-2016.

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    Starwin Products Limited [SPL] Quarter-on-Quarter financial analyses reveal significant increase in earnings from GHS149,716 in Q1-2015 to GHS340,509 in Q1-2016 representing an increment of 127.43%.

    Cash flow from operating activities also increased significantly from GHS199,623 in Q1-2015 to GHS454,012 in Q1-2016.

    Management seems to have turned the fortunes of the company around after recording lower profits and incurring high finance costs in Q1-2015. Earnings-per-share went up marginally from GHS 0.0020 in Q1-2015 to GHS 0.0046 in Q1-2016. The company’s quarterly revenue was however affected by a high increase in income tax expense and a shortfall of -43.95% in inventory compared to Q1-2015.

    The relative stability experienced in the power crisis so far this year coupled with lower inflationary pressures offers good prospects for SPL in the next quarters of 2016. The low price of SPL continues to attract retail investors with short term investment goals. Although the company does not regularly pay dividends, capital gains are guaranteed for investors especially in the current bearish state of the equity market.

    GN Analysts anticipate better performance in the manufacturing sector which will affect the operations and turnover of SPL from Q2-2016 to year end. Investors can take advantage of the low price of this equity and invest no for future capital gains.

    Trading activity on the bourse ended with 1 gainer [FML] and 2 losers [SCB, SOGEGH] yesterday. EGL topped trading chart as 3,217,700 shares worth GHS 7,851,188.00 changed hands. Returns on the Composite and Financial Stock Index pegged at -10.92% and -13.22% respectively.

    Rights Issue

    GOIL shed off GHS 0.04 of its price to close trading at GHS 0.06 with a total volume of 118,890 shares worth GHS 7,412.90 changing hands.

    Activity on the Ghana Alternative Market (GAX) saw 1000 shares of HORDS worth GHS 100.00 and 52,400 shares of ILL worth GHS4,716.00 change hands yesterday.

    HORDS currently lead record capital gains on the GAX, appreciating by 25% from year open.

    The Cedi lost marginally to all the major trading currencies yesterday.

    The local currency exchanged at a mid-rate of GHS 3.8133 to the USD, GHS 5.5211 to the GBP and GHS 4.3220 to the EURO.

    The GCFM Cedi index, a measure of the holistic performance of the Cedi on the interbank market now records a year-to-date depreciation of 1.32%.


    Source: Ghana/ with data from GN Research

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