Falcon Energy: 2Q14 Net Profit Up 19 Times To US$38.9 Million.
05 Nov 2013 10:50
Falcon Energy Group Limited posted a 776 per cent rise in Net Profit after tax attributable to shareholders from US$3.9 million in 1H2013 to US$34.4 million in 1H2014. This was on the back of a 511 per cent jump in revenue to US$209.7 million. The Group's overall gross profit improved by 839 per cent to US$90.9 million with a higher overall gross profit margin of 43 per cent compared to 28 per cent in the previous corresponding period. FEG's strong performance for 1H2014 is a confirmation that its growth strategy is yielding positive results. The Group's revenue rose substantially on the back of business expansion by moving up the value chain in oil and gas services industry...
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Chart Analysis For Falcon Energy, Gap up this morning opening at 0.44, Mid term this counter is on an uptrend, could have more upside in coming month as All the Moving average are turning up, 10ma, 20ma 40ma all facing upward. However a safer trade set up could be around 0.400 - 0.405 area, stoploss at 0.39.
High Risk Trade, position size: Small.
TimeFrame Mid- term
