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NATIONAL CAN INDUSTRIES LIMITED (NCI)

NATIONAL CAN INDUSTRIES LIMITED (NCI)

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General Information
Company Name: National Can Industries Limited
Stock Code: NCI
Website: www.natcan.com.au
GICS Sub-Industry: Metal & Glass Containers
Market Cap ($M): 122
Equiv. Shares (M): 67

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 1.830 $ 0.000 $ 0.000 $ 0.000 $ 1.830 0 0%

Company Overview

Business Description:
National Can Industries Limited (NCI) is involved in the manufacture and sale supplier of metal and plastic packaging products and services for use in a variety of industrial and food applications. NCI provides products to paint, aerosol, food, chemical, beverage industries; wholesale merchants; and exports to a number of overseas markets. NCI has operations in Australia, New Zealand, Fiji and Papua New Guinea.

Strategy Analysis:
NCI continues to restructure its operations and facilities in response to an increasingly competitive market. Plant closures and rationalisation of production have been implemented to reduce costs. As a part of its strategic review, the company has divested the non-core activities in plastic spools and fancy cans and closed manufacturing operations in Christchurch, Lismore and Belmont. NCI aims to invest in new equipment, tooling and products with the ambition to become the industry's low cost producer.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2011  A 3.2 4.9 -35.5 25.0 3.0 2.5 100.0
2010  A 5.0 7.6 10.1 15.6 5.0 4.2 100.0
2009  A 4.6 6.9 -31.0 15.7 4.0 3.7 100.0
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F
National Can Industries (NCI) $122 M -0.3584 -- -- 37.7320 -- -- 0.0164 -- --

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
NCI 1.58 37.7 0.93 -- 0.76
Market 1.12 11.1 0.96 2.31 2.55
Sector 0.41 9.48 1.05 1.04 14.3

Directors
Name Position Start Date
Mr Michael W Tyrrell Managing Director 01 January 1989
Mr Raymond Kenneth Horsburgh Non-Executive Director 23 November 2006
Mr Ronald George Pitcher Non-Executive Director 29 April 1994
Mr Terry O'Brien Non-Executive Director 25 November 2004
Mr Edward Brian Noxon Non-Executive Director,Non-Executive Chairman 04 February 2000

Management
Name Position
Mark R McDonald Chief Finance Officer,Company Secretary
P Sloane Chief Operating Officer

Substantial Shareholders
Holding Name
33,993,451 (50.91%) Tyrrell Investments Pty Ltd
5,845,454 (8.75%) Hunter Hall Investment Management Limited
13,348,037 (19.99%) Salvage Pty Ltd and related corporations

Calendar of Events
Date Event
26 February 2013 Report (Interim)
17 September 2012 Report (Annual)
23 August 2012 Report (Prelim)
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