China Aviation Oil (CAO)

More earnings drivers required for China Aviation Oil to be a 'buy', says RHB
SINGAPORE (Mar 1): RHB Research is remaining “neutral” on China Aviation Oil (CAO) after the group reported FY18 earnings of US$94 million ($127 million), up 10% y-o-y and coming in slightly ahead of RHB and consensus estimates on better-than-expected gross profit margin. The research house has raised its target price on the stock to $1.50 from $1.32 previously as it rolls over its blended ...
China Aviation Oil posts 23.9% increase in 4Q earnings to $25.2 mil
SINGAPORE (Feb 28): China Aviation Oil (CAO) has announced a 23.88% increase in its 4Q18 earnings to US$18.7 million ($25.2 million), compared to US$15.1 million in 4Q17, mainly from the reduction in operating expenses and increase in gross profit. This brings FY18 earnings to US$93.9 million, 10.52% higher than US$84.9 million in FY17. Revenue for 4Q18 was 7.79% higher at US$4.38 billion ...
China Aviation Oil target price slashed on crude oil & currency risks
SINGAPORE (Nov 2): CGS-CIMB Securities is maintaining its “add” call on China Aviation Oil (CAO), lowering its target price on the stock to $1.83 from $2.03 to account for a wider discount of 30% of peer average compared to 25%. The new target price is now based on 12 times FY19F earnings as opposed to 12.5 times previously, and comes after the release of CAO’s 3Q18 results which ...
Earnings growth for China Aviation Oil still remains healthy: RHB
SINGAPORE (Aug 2): RHB is reiterating its “buy” recommendation on China Aviation Oil (CAO) with a target price of $1.80. CAO is also the research house’s Singapore Top Picks. In a Thursday report, analyst Shekhar Jaiswal says that he remains positive on the group’s strong recovery in its profit growth for 2018. On Wednesday, the group announced that its 2Q18 earnings have increased ...
China Aviation Oil reports 14% rise in 2Q earnings to US$29.3 mil
SINGAPORE (Aug 1): China Aviation Oil reported 2Q18 earnings ended June increased 14.4% to US$29.30 million ($40 million) compared to 2Q17, mainly due to higher gross profit and stable profit contributions from associates. This brings 1H18 earnings to US$56.21 million, 14.15% higher compared to US$49.24 million a year ago. In 2Q18, total supply and trading volume increased by 18.8% to 9.97 ...
China Aviation Oil acquires Navires Aviation for $10.9 mil to expand footprint in Europe
SINGAPORE (July 2): China Aviation Oil (CAO) announced that it has acquired Navires Aviation Limited (NAL) for a consideration of US$8 million ($10.9 million) from Castleton Commodities Merchant Trading. NAL is a company registered in the UK with principal activities in jet fuel supply and trading as well as aviation marketing. Currently, NAL has an interest in Aircraft Fuel Supply ...
SPIA still the gem for China Aviation Oil amid associate portfolio streamlining
SINGAPORE (June 20): CGS-CIMB Research is keeping its “add” call on China Aviation Oil (CAO) with an unchanged target price of $2.03, after the jet fuel trader signal its intention to streamline its associate portfolio. CAO on Tuesday announced plans to divest its entire remaining 39% stake in its associate company, China Aviation Oil Xinyuan Petrochemicals Co. As CAO is a subsidiary of ...
China Aviation Oil to dispose remaining 39% stake in associate via listing-for-sale
SINGAPORE (June 19): China Aviation Oil (CAO) intends to divest its entire remaining 39% stake in its associated company China Aviation Oil Xinyuan Petrochemicals, a limited liability company in China. As a subsidiary of Chinese state-owned enterprise China National Aviation Fuel Group, CAO says the latest and final disposal of its equity stake in Xinyuan will be made by way of a ...
China Aviation Oil kept at 'buy' on positive growth outlook & compelling valuations
SINGAPORE (May 30): RHB Research is maintaining its “buy” call on China Aviation Oil (CAO) with an unchanged target price of $1.80 or 11.9 times FY18F earnings. This comes after RHB hosted the group’s recently-appointed CFO, Xu Guohong, at a non-deal roadshow (NDR), where Xu reiterated the group’s focus on growing its core jet fuel business via higher investments in international ...
Analysts buoyant as China Aviation Oil sees growth driven by associates
SINGAPORE (May 10): China Aviation Oil (CAO) yesterday announced that its 1Q18 earnings have increased by 13.9% y-o-y to US$26.91 million ($36.1 million) from a year ago, mainly contributed by a higher share of results from its associated companies. Correspondingly, earnings per share came in at 3.13 US cents in 1Q18 versus 2.75 US cents in 1Q17. Due to higher oil prices, revenue for the ...