Friday, July 29, 2011

Daiboci- reported higher top-line & bottom-line

Results Update

Like DXN, Daiboci also had a bullish breakout recently, which I had posted on (here). Yesterday, it announced its results for QE30/6/2011. Its net profit increased by 7% q-o-q or 19% y-o-y to RM5 million while its turnover also increased by 8% q-o-q or 20% y-o-y to RM73 million. From the chart below, we can that Daiboci's top-line is rising but its bottom-line remained stagnant.


Table: Daiboci's last 7 quarterly results



Chart: Daiboci's last 15 quarterly results

Comment & Conclusion

Based on current PE of 11.5 times and the bullish technical outlook (as noted recently), I would rate Daiboci a HOLD.

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