Ann Joo's net profit increased sharply

Ann Joo reported its results for 1Q2008 (QE31/3/2008) yesterday. Its net profit increased by 43.8% q-o-q or 247% y-o-y to RM104.9 million, while its turnover increased by 2.2% q-o-q or 50.3% y-o-y to RM671 million.


Note: Ann Joo had a 1-for-2 Bonus Issue in November 2007.

Ann Joo (closed at RM3.78 yesterday) is now trading at a trailing PE of 7.3 times (based on last 4 quarters' EPS totaling 52 sen) or at a P/Book of 2.1 times (based on NTA per share of RM1.84 as at 31/3/2008). At these multiples, Ann Joo is still very attractive.

Technically speaking, Ann Joo's immediate resistance is at RM4.00. If it can surpass this strong resistance level, it could revisit its all-time high of RM4.50.


Chart 1: Ann Joo's weekly chart as at May 7, 2008 (courtesy of Quickcharts)


Chart 2: Ann Joo's monthly chart as at May 7, 2008 (courtesy of Quickcharts)

Ann Joo has come a long way since I first posted on this stock in August 2006 (go here & here). In the next few months (or, maybe earlier), we would see if it can make a new all-time high.