As expected the earning for 3Q2010 is in-line with my forecast of 97millions. BJTOTO is truely miss out a dividend this time round. Will there be a dividend in 4Q2010 ?? The chances of a dividend is better as compare to 3Q2010 as the earning is expected to be remained for 4Q2010 where it should stood at around 8 - 9sen.
Assuming 4Q2010 contribute 8sen EPS, that will give a total of 30.86sen EPS. As 19sen has been payout as advance dividend, thus, 30.86 - 19 = 11.86sen remaining for a possible dividend in 4Q2010. The introduction of the new game Supreme 6/58 may boost some earning for 4Q2010 but conservatively, would remain my estimation of 8sen EPS for 4Q due to competitive market from other betting operator.
Without clear sign of catalysts such as dividend, BJTOTO would likely to trade side way. Long term holder like me would of course dissapointed with no dividend, however, it provide opportunity of building up your piles while it is on weakness as i believe a cash cow machine would remain as cash cow machine, no matter how hard it fall. After all this is just a minor and temporary set back and recovery should be imminent.
No comments:
Post a Comment