转自 Ali 兄的好贴,感谢他的分析--OLDTOWN vs PWROOT

Thursday, June 13, 2013

OLDTOWN vs PWROOT

OLDTOWN (5201)

White Coffee manufacturer with coffee store chain. (旧街场白咖啡) is the largest kopitiam restaurant chain in Malaysia. The company founded in 1999 at Ipoh, Perak.

OLDTOWN is a rapid growing as per reflected in Revenue and Profit After Tax (PAT). The revenue and PAT are four folded from past six year ago. 

The share price grew 83% in past two years. However, growth with 41% in PAT past two years, its share price is not in line with its business growth.

PWROOT (7237)

Another local brand coffee manufacturer. The company founded in 1999 at Johor Bahru. A few successful product such as Alicafe and Perl's cafe. Recently (in year 2012) launch a new product "Ah Huat White Coffee".

PWROOT is also a growing company. Revenue grew 56% (from 2008) and PAT drop 12% compare year 2008, however PAT is 3.5 folded when compare to year 2009. 

The share price is surge 240% in past two years, in line to its PAT growth of 2.8 folded.

Conclusion:
It seem OLDTOWN is overvalued. PWROOT is in-line.