Came out this morning, horse has bolted unfortunately.
Fundamentals of this business looks very promising.
FY01 643K profit FY02 1,355K profit
PE on FY02 figures 9.68 at 15 cents. Currently 19 cents seller.
These figures are from Stock Doctor and reflect the underlying operating profit.
Director purchased heavily in the last few days.
Recent report on activities upbeat
Name of Director Richard Anthony Llewellyn Becker
Date of last notice 11/11/2002
Part 1 - Change of director's relevant interests in securities
Direct or indirect interest Indirect Interest
Nature of indirect interest (including registered holder) Securities acquired by Becker Investments P/L, a company controlled by the director
Date of change 18/11/2002
No. of securities held prior to change 19,946,302 (including 1,000,000 unlisted options
Class Ordinary
Number Acquired 639,000
Number disposed N/A
Value/consideration $95,850
No. of securities held after change 20,585,302 (Including 1,000,000 unlisted options)
Nature of change On-market trade
BECKER GROUP LIMITED 2002-11-15 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++ In welcoming you to this year's Annual General Meeting I would like to thank all our shareholders for their interest and patience as we continue to refine and build the Group's business. Beckers' strategic focus is to operate a diverse entertainment company that can respond to an ever changing marketplace while offering real growth opportunities, Our increased positive cashflows for the second successive year and our rapid repayment of bank debt, along with an improved profit, indicate that we are heading in the right direction.
Over the past two years significant gains have been made in most of our operating divisions, with considerable scope for further gains if the current market conditions don't deteriorate. In film distribution, we have maintained our revenue levels from 2001 despite massive cut backs in last year's film acquisition budget. We expect to maintain film revenues in 2003 as we continue to pursue the lower risk film acquisitions policy instigated some years back. This activity feeds directly into our investment in Magna Pacific Pty Ltd, which is expected to contribute $1.5milllion to the Group from video/DVD sales in 2003.
Exhibition revenue, which has shown relative stability in recent years, is expected to improve in 2003 as newscreens in Newtown, Byron Bay and Melbourne come on line in time for our second half.
The difficult trading conditions in the Australian television market have been extensively reported in the press. Fortunately our program production income has been significantly supplemented by our outside broadcast business. We expect to maintain this position as television revenues are not expected to improve in 2003. However, it is reasonable to expect that, once Australian television sector improves, we will see an uplift in our local production income. Where we do see a marked improvement is in South East Asia, in particular in Indonesia and Singapore with production income expected to significantly improve on last year.
A considerable effort is being made to improve the flow of information to shareholders, via our website. Early in the new year I encourage you to keep Lip to date with the Group's monthly activities in film and television by accessing our new website www.beckerentertainment.com.au, wwwdendy.com.au and www.magnapacific.com.au for regular updates.
Traditionally earnings are stronger in the second half and under the prevailing conditions I can only expect the first half to be similar to last year however, as the now Dendy screens come on line, OSB delivers its first full year results and Magna delivers what we expect will be their best video line up to date, I believe we can show a marked improvement in the second half.
Finally, I would like to thank my dedicated team of professionals for their tireless work. Also let me thank the Chairman Mr Greg Gardiner and the Deputy Chairman, Russell Becker and the Board for its counsel and support throughout the year.
I feel confident that with the support of my team we can deliver another increase in operating profits in the 2003 year.
BKR Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held