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Daily Share Chat: Nuplex

By Jenny Ruth

Friday 29th January 2010

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 Jenny Ruth

Resins company Nuplex's third profit upgrade in just over two months reflects management's increasing confidence in its operating performance, despite the difficulty in forecasting in the current environment, says Craigs Investment Partners analyst Dennis Lee.

Management said trading conditions were solid in November and December and raw materials costs have also been stable.

"Management said while it is difficult to gauge demand conditions in the second half at this stage, it is confident that current trends are unlikely to change materially in the near term to distort full-year earnings," Lee says.

Nuplex now expects earnings before interest, tax, depreciation and amortisation (EBITDA) between $120 million and $135 million for the year ending June, up from its previous guidance of between $110 million and $120 million, and confirmed it will resume paying dividends.

"We retain our positive view. We believe Nuplex's earnings are highly leveraged to the ongoing rebound in global economic activity," Lee says. Recent leading indicators support a continued global economic recovery, he says.

Lee has raised his target price 11% from $3.28 to $3.66 and has raised his forecast EBITDAfor 2010 by 9% to $125.8 million. He has raised his 2011 and 2012 forecasts by 4% each.

Recommendation: buy.

Daily ShareChat articles report how the main experts in the market might view a certain share and we provide this commentary as a useful resource for investors. Content on this site does not in any way constitute a recommendation to buy, hold or sell any particular share. Investors should always seek professional advice before making any investment decisions.

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Get quotes for Nuplex Industries Limited Ordinary Share (NPX)
NZX Annoucements for NPX
26 Aug 2010 FLLYR: NPX: Nuplex FY2010 Results Release
20 Aug 2010 APPNDX7: NPX020: NZX Appendix 7 - NPX Cap Notes Quarterly Interest Payment
9 Jul 2010 RELINT: NPX: Change to Former Directors Relevant Interests
7 Jul 2010 MEETING: NPX: Dates for Results Release and AGM
7 Jul 2010 OFFICE: NPX: Nuplex Strenghens Senior Executive Team
7 Jul 2010 GENERAL: NPX: Nuplex Response to Media Reports
15 Jun 2010 RELINT: NPX: Ongoing Disclosure Notice (Sylvia Langton)
9 Jun 2010 ADDRESS: NPX: 2009/2010 Investor Update - June 2010
9 Jun 2010 ADDRESS: NPX: 2009/2010 Investor Update - June 2010
24 May 2010 RELINT: NPX: Ongoing Disclosure Notice (Peter Gliddon Ware)
24 May 2010 APPNDX7: NPX020: Amended Appendix 7
21 May 2010 APPNDX7: NPX020: NZX Appendix 7 - Capital Notes Quarterly Interest Payment
21 May 2010 RELINT: NPX: Ongoing Disclosure Notice (Sylvia Langton)
19 May 2010 RELINT: NPX: Amended ASX Appendix3X (to correct typographical error)
23 Apr 2010 RELINT: NPX: Disclosure of Director's Relevant Interest
23 Apr 2010 OFFICE: NPX: Nuplex Confirms Appointment of Dr Emery Severin as MD/CEO
21 Apr 2010 RELINT: NPX: Notice Amending Directors Disclosure
20 Apr 2010 RELINT: NPX: Disclosure of Director's Relevant Interest
16 Apr 2010 SSH: NPX: SSH (AMP Capital Investors (New Zealand) Limited)
14 Apr 2010 GENERAL: NPX: Announcement re action by NZ Securities Commission
6 Apr 2010 SSH: NPX: SSH (Ian Graham)
6 Apr 2010 SSH: NPX: SSH (Accident Compensation Corporation)
1 Apr 2010 RELINT: NPX: DRP - Disclosure of Directors & Officers Interests
1 Apr 2010 ALLOT: NPX: ISSUE OF SHARES UNDER DIVIDEND REINVESTMENT PLAN
29 Mar 2010 DRP: NPX: Dividend Reinvestment Plan and 2009/10 Interim Dividend
24 Mar 2010 INTERIM: NPX: Despatch of Interim Report
24 Mar 2010 GENERAL: NPX: Nuplex Expands its Specialties Business with Med-Chem
23 Mar 2010 RELINT: NPX: Initial disclosure (Sylvia Langton)
12 Mar 2010 RELINT: NPX: Disclosure of Officers Relevant Interests
4 Mar 2010 APPNDX7: NPX: NZX Appendix 7
25 Feb 2010 HALFYR: NPX: Half-Year Results Release
22 Feb 2010 APPNDX7: NPX020: Appendix 7 Capital Notes Interest Payment
4 Feb 2010 OFFICE: NPX: Nuplex Appoints New CEO
27 Jan 2010 OFFICE: NPX: Nuplex Appoints General Manager, Operations
21 Jan 2010 FORECAST: NPX: Nuplex EBITDA Guidance Increased
 
Nuplex Industries Limited Ordinary Shares

Current quote:
NPX $3.18
Quotes delayed 20 minutes
Price when article published: $3.27

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