800 Super Holdings

800 Super's independent adviser says shareholders should accept Lee family's offer

SINGAPORE (June 10): 800 Super Holdings says independent financial adviser (IFA) Novus Corporate Finance considers the privatisation offer from its controlling Lee family to be “fair and reasonable”.

See: 800 Super gets 90 cents per share privatisation offer from KKR

800 Super posts 25% drop in 2Q earnings to $1.9 mil on higher expenses

SINGAPORE (Feb 12): Waste disposal company 800 Super Holdings saw its earnings fall 24.8% to $1.9 million for the 2Q19 ended December, compared to earnings of $2.5 million a year ago.

This was mainly due to purchase of supplies and disposal charges, which nearly doubled to $11.3 million in 2Q19, from $5.7 million a year ago, due to expenses incurred in the operations of the public waste collection sectors, the waste treatment plants and the laundry plant.

2Q19 revenue rose 27.2% to $46.0 million, from $36.1 million a year ago.

800 Super upgraded to 'buy' by Phillip on recent share price slump

SINGAPORE (Sept 3): Waste disposal company 800 Super is expected to turn free cash flow positive only in FY20, according to research house Phillip Capital.

In recent reports, Phillip had been stating its expectation of near-term PATMI weakness due to transitional ramp-up of new projects.

Last Wednesday, shares in 800 Super slumped 26.1% to 61 cents. This is its lowest in the year to date, down from a high of $1.24 touched in mid-January. The slump followed its announcement of a loss in 4Q18 on the back of higher expenses.

800 Super posts 37% drop in 3Q earnings to $3.9 mil

SINGAPORE (May 11): 800 Super Holdings, the comprehensive environmental solutions provider, says 3Q18 earnings declined by 37% to $3.94 million, compared to $6.25 million in 3Q17.

Revenue was 6.1% lower at $37.1 million from $39.5 million a year ago, mainly due to the completion of term contracts and the renewal of certain contracts at more competitive prices.

Other income fell 32% y-o-y to $0.07 million.

New projects to support 800 Super's earnings despite 2Q disappointment, says Phillip Capital

SINGAPORE (Feb 12): Phillip Capital is maintaining its “accumulate” rating on 800 Super Holdings with a target price of $1.35, or 17.8 times FY18 earnings.

This comes after the waste management company last week posted a 32% drop in 2Q earnings to $2.47 million on lower revenue and higher expenses.

See: 800 Super Holdings posts 32% drop in 2Q earnings to $2.47 mil

800 Super Holdings posts 32% drop in 2Q earnings to $2.47 mil

SINGAPORE (Feb 9): 800 Super Holdings announced that its 2Q18 earnings has dropped by 32% to $2.47 million from $3.63 million in 2Q17.

Revenue during the quarter declined 8.3% to $36.1 million compared to $39.4 million a year ago, mainly due to the completion of term contracts and the renewal of certain contracts at more competitive prices.

Other income increased by 178.3% to $167,000 from $60,000 last year.

800 Super wins $194 mil public waste collection contract from NEA

SINGAPORE (Jan 12): 800 Super Holdings, the environmental services provider, has won a public waste collection licence with a contract value of $193.5 million by the National Environmental Agency (NEA).  

Under the licence, the group’s wholly-owned subsidiary, 800 Super Waste Management, will provide refuse collection services to domestic and trade premises in the Pasir Ris – Bedok sector in Singapore.

The licence is effective for a total period of seven years and four months spanning from Jul 1, 2018 to Oct 31, 2025.  

800 Super kept at 'buy' on steady pipeline

SINGAPORE (Nov 13): Phillip Securities Research is keeping its “buy” call on environmental services provider 800 Super Holdings but lowering its target price to $1.43, down from $1.53 previously.

“We like the stock for its recession-proof business model, yet with a pipeline of projects to drive medium-term growth,” says analyst Richard Leow in a report on Monday.

800 Super saw its PATMI dip by 2.5% to $4.4 million in 1Q18 as an increase in staff cost put the squeeze on margin.

Revenue remained stable at $40 million during the quarter, up 1.4% y-o-y.

800 Super subsidiary to buy laundry firm for $5 mil

SINGAPORE (Oct 3): Wizwash, a wholly-owned subsidiary of 800 Super Holdings, has entered into a call and put option agreement to acquire a 100% stake in Iwash Laundry (Senoko) for $5.0 million.

Iwash Laundry is principally engaged in the business of laundry and dry cleaning services, except coin laundries. The company owns a leasehold property with an estimated gross floor area of 2,600 sq m at 80 Senoko Drive.

The proposed acquisition will be financed via a combination of internal funds and bank borrowings.

800 Super posts 2.3% rise in FY17 earnings to $17.1 mil

SINGAPORE (Aug 24): Environmental services provider 800 Super Holdings posted a 2.3% increase in earnings to $17.1 million for the full year ended June, from $16.7 million a year ago.

Revenue edged up marginally to $156.9 million in FY17, compared to $156.4 million a year ago, as revenue from new projects awarded during the year were partially offset by the completion of certain cleaning contracts.

Expenses from purchase of supplies and disposal charges fell 10.2% to $23.7 million in FY2017, mainly due to sustained cost management measures.

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