Metro Retail Stores Group, Inc. (MRSGI) FY2019 Financial Results
Earnings of MRSGI fell by a fifth in the fiscal year 2019 compared to a year ago.
The net income decreased by 20% to ₱776 million compared to ₱965 million in 2018 with the flattish growth in revenues at 11% to P37 billion.
The Social Security System (SSS) invested MRSGI. As of March 31, 2020, it owned 21,933,500 shares comprise 0.64% of its total outstanding shares. I knew that before this pension fund invested their member's money to any company, due diligence is religiously adopted and it always has strict provisions that the said company is bound to declare yearly dividends consistently. I believed it added confidence and investment value to its investors in the long run.
OBSERVATION: MRSGI failed in my asset and relative valuations. The retail business may improve its revenue on the universal effect of COVID-19, which I always referred to as the WUHAN-400 plague, but due to most retail product manufacturers trims or stop operations may impact inventories that lead to lower sales projections as well as depress income forecast in the near term. Now, is it time to invest MRSGI? If the latest support at 1.23 on 24-Mar-2020 will be broken on or before the year-end, then I’m expecting its bottom support level range between 0.85-0.75. Nonetheless, 1.23 is already 50% premium from my latest DCF share price calculation.
DISCLAIMER: I'm not a Certified Financial Planner. Published herein is my personal opinion and should not be construed as a recommendation, an offer, or solicitation for the subscription, purchase or sale of this security.
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