Say that again? 500%! or 572% if you want to penny pinch the final figures. So I was right in saying that the stock market price of the company was not a good barometer of the true value of the company. It was around mid August that the price of the stock went below the P4/share mark. Chemrez initiated a Stock buy back in August and come October there was vindication as the company stock price hit 4.75 yesterday and looks like it is well on its way to breach P5/share.
Its quite obvious from this blog that I am a biofuel fanboy huh?
They also mentioned the effect of their entry to the Philippine Emerging Biofuels Market to their bottom line, which is just damn good!
Approximately five months into the implementation of the Biofuels Act, the company’s coco-biodiesels and other oleochemical products contributed about 35 percent to consolidated revenues and about 53 percent of gross profits.
Sales of biofuel and other coconut oil-based products during the third quarter rose nearly 430 percent from the first quarter of 2007 as ChemrezTech capitalized on its leading position in coco-biodiesel to obtain an average 55 percent share of the wholesale coco-biodiesel market that began in late April. [source]
Aside from biodiesel, Chemrez also produces other environment-friendly industrial products that don’t emit harmful fumes and are biodegradable. These products are water-based solvents, paints and resins.
Category: Biodiesel
