Kangaroo Island Plantation Timbers Ltd (ASX: KPT) came forward and made an announcement related to the Memorandum of Understanding with the help of the press release. As per the press release dated January 9, 2019, the company had entered into the MoU (or Memorandum of Understanding) with Flinders Ports Pty Ltd. As a result of this MoU, they would be jointly working exclusively for the port operating model which is made for the production of the optimal solution. This solution would be for the port owner, port users as well as the port operator. The press release which was issued also stated that Flinders Ports happens to be on the list of the leading port operator of South Australia.
Let us now see what the Board of Kangaroo Island Plantation Timbers have to say. According to the Board, Flinders Ports happens to possess the capability of delivering as well as managing services with regards to new KI Seaport and utilizing these capabilities with the help of the present efficiencies of the several operating ports would be beneficial for the of Kangaroo Island Plantation Timbers. As both the companies have entered in the MoU, they need to jointly work towards the attainment of the mutually beneficial outcome. Moreover, the issued release had also stated that both the companies would be protecting as well as sharing the intellectual property of one another with regards to KI Seaport’s marine operations.
We would now be having a look at some of the previous news related to Kangaroo Island Plantation Timbers Ltd. Earlier, the company had given the presentation about the annual general meeting (or AGM). As depicted by the AGM presentation, the company’s comprehensive income amounted to $36.3 million in FY 2017 while in the FY 2018 it was $13.0 million. The company’s EPS (or earnings per share) stood at 28 cents in FY 2018 representing a decline on the YoY basis. In FY 2017, the company’s EPS was 148 cents. However, at the end of FY 2018, the company’s net cash was $6.7 million which implies a rise on the YoY basis. At the end of FY 2017, the company’s net cash was $6.0 million.
The AGM presentation had also reflected that there is no change in the strategy of Kangaroo Island Plantation Timbers Ltd. The company plans to operate KI Seaport as well as timberland on a sustainable and profitable basis. We would now see how the stock of Kangaroo Island Plantation Timbers Ltd has been performing from the past few months. The last traded price of the company’s stock was A$2.000 per share.
The market capitalization of Kangaroo Island Plantation Timbers Ltd was $101.82 million. Considering the past performance of the stock, it had delivered the return of -4.31% in the span of previous six months.
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