A good set of results. I am positive about its turnaround based on:
- Continuous growth in Indochina and other markets revenue. ~35% of overall revenue in 2016 as compared to ~28%. I might be wrong but I think that "Russia, Ukraine crisis" have forced them to move out of their comfort zone and looked into other markets. And the results have been encouraging.
- Slightly stronger balance sheet though still in debt.
- Declaration of dividend shows that management is willing to reward shareholders when time is good. So if company can continue to grow, expect further increase in dividend but if business falls, expect no dividend.
- Continuous growth in Indochina and other markets revenue. ~35% of overall revenue in 2016 as compared to ~28%. I might be wrong but I think that "Russia, Ukraine crisis" have forced them to move out of their comfort zone and looked into other markets. And the results have been encouraging.
- Slightly stronger balance sheet though still in debt.
- Declaration of dividend shows that management is willing to reward shareholders when time is good. So if company can continue to grow, expect further increase in dividend but if business falls, expect no dividend.
Key risk still lies with currency fluctuation due to Russia and Ukraine. I am a noob in currency but it seems to have more or less stabilise over the past year. Also, with the company having other growth avenues, this factor will hopefully reduce in its effect.
At current price of $0.57, PE is 14.5 and dividend yield is a mere 1.1%. Cheap or expensive? It really depends whether it can continue to grow in the next few years.
Vested @0.33 and will continue to hold.
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