First Natural Foods Holdings Ltd: Company Profile and SWOT Analysis - PDF

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					First Natural Foods Holdings Ltd

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First Natural Foods Holdings Ltd                                                 Financial Snapshot

                                                                                 Operating Performance
Fast Facts
                                     62/F, One Island East, Island East, ,Hong   The company reported revenue of US$21.24 million
Headquarters Address
                                     Kong                                        during the fiscal year 2010 (2010). The company's
                                                                                 revenue declined at a compounded rate of -25.37%
Telephone                            + 852 28271177
                                                                                 during 2006–2010, with an annual growth of
                                                                                 5615.20% over 2009. In 2010, the company recorded
Fax                                  + 852 28272177                              an operating margin of 1.70%, as against -181.04% in
                                                                                 2009.
Website                              www.firstfoods.com.hk

Ticker Symbol, Stock Exchange        1076, Hong Kong Stock Exchange              Revenue and Margins

Number of Employees                  500

Fiscal Year End                      December

Revenue (in US$ million)             21.24

Revenue (in CNY million)             144.01




SWOT Analysis
                                                                                 Return on Equity
Strengths                            Weaknesses
                                                                                 The company recorded a return on equity (ROE) of
                                     Overdependence on Limited                   0.00% for 2010, as compared to its peers, China
Control Over SG&A Expenses
                                     Customers                                   Botanic Development Holdings Ltd (Ticker: 2349),
                                                                                 Four Seas Food Investment Holdings Limited (Ticker:
Wide Business Operations             Overdependence on Two Suppliers             0060) and Pacific Andes International Holdings
                                                                                 Limited (Ticker: 1174), which recorded ROEs of
                                     Poor Top-Line Performance                   42.63%, 9.20% and 8.44% respectively. The
                                                                                 company reported a net profit margin of 1.70% in
                                                                                 2010.
Opportunities                        Threats

Potential in the Chinese Market      Consumer Preferences                        Return on Equity


Strategic Growth Initiatives         Rising Counterfeit Goods Market

Strong Frozen Foods Market Outlook   Rising Raw Material Prices




                                                                                 Liquidity Position

                                                                                 The company reported a current ratio of 0.13 in 2010,
                                                                                 as compared to its peers, China Botanic Development
                                                                                 Holdings Ltd, Four Seas Food Investment Holdings
                                                                                 Limited and Pacific Andes International Holdings
                                                                                 Limited, which recorded current ratios of 1.74, 1.69
                                                                                 and 1.31 respectively. As of December 2010, the
                                                                                 company recorded cash and short-term investments
                                                                                 of worth US$1.99 million, against US$26.13 million
                                                                                 current debt. The company reported a debt to equity
                                                                                 ratio of -0.47 in 2010 as compared to its peers, China
                                                                                 Botanic Development Holdings Ltd, Four Seas Food
                                                                                 Investment Holdings Limited and Pacific Andes
                                                                                 International Holdings Limited, which recorded debt to
                                                                                 equity ratios of 0.44, 0.12 and 1.40 respectively.




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First Natural Foods Holdings Ltd - SWOT Profile                                                                          Page 1
First Natural Foods Holdings Ltd

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TABLE OF CONTENTS

1     Business Analysis ................................................................................................................................... 5
    1.1       Company Overview ................................................................................................................................................5
    1.2       Business Description ..............................................................................................................................................5
    1.3       Major Products and Services .................................................................................................................................6
2     Analysis of Key Performance Indicators ............................................................................................... 7
    2.1       Five Year Snapshot: Overview of Financial and Operational Performance Indicators ..........................................7
    2.2       Key Financial Performance Indicators .................................................................................................................10
      2.2.1       Revenue and Operating Profit .........................................................................................................................10
      2.2.2       Net Debt vs. Gearing Ratio ..............................................................................................................................11
      2.2.3       Operational Efficiency ......................................................................................................................................12
      2.2.4       Solvency ..........................................................................................................................................................13
      2.2.5       Valuation ..........................................................................................................................................................14
    2.3       Competitive Benchmarking ................................................................................................................................
				
DOCUMENT INFO
Description: ICD Research's "First Natural Foods Holdings Ltd: Company Profile and SWOT Analysis" contains in depth information and data about the company and its operations. The profile contains a company overview, business description, financial ratios, SWOT analysis, key facts, information on products and services, details of locations and subsidiaries, plus information on key news events affecting the company.
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