PIE is involved in the manufacturing of cables & wires for electrical devices, cable moulding components & PCB assemblies, cable & wireharness for computer, communication, consumer electronic industry & cable assembly.
Recent Financial Results
PIE has just reported its results for FYE31/12/2006. For the QE31/12/2006, net profit grew by 50% q-o-q or 29% y-o-y to RM10.6 million. Its turnover has also increased by 19% q-o-q or 43% y-o-y to RM85.4 million.
For FY2006, net profit jumped by 54% to RM26.1 million while turnover grew by 26% to RM277 million.
Valuation
Based on PIE's closing price of RM3.20 & its FY2006 EPS of 42.0 sen, PIE is now trading at a PE of about 8 times.
Technical Outlook
The share price is very near its recent high of RM3.28. If the share can surpass this high, there is good chance that the share price may continue its steady rise.
Chart: PIE's daily chart as at Feb 26
Conclusion
Based on steady growth in PIE's topline & bottomline, undemanding valuation & nice technical set-up, PIE is a good stock to invest in for the medium-term.
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