Recent Financial results
In QE31/3/2012, MBL's net profit increased by 92% q-o-q or 239% y-o-y to RM6.5 million while revenue increased by 95% q-o-q or 120% y-o-y to RM24.4 million. The company attributed its better performance to higher recognition of results from its project sales. The company guided that it will achieve better results for FY2012 in view of its strong order book.
Table: MBL's last 8 quarterly results
Chart 1: MBL's last 11 quarterly results
MBL (closed at RM0.975 yesterday) is now trading at a trailing PE of 5.3 times (based on last 4 quarters' EPS of 18.25 sen). At this multiple, MBL is deemed fairly attractive.
MBL broke above its expanding triangle at RM0.80 in March. With this breakout, MBL has just started on its upleg.
Chart 2: MBL's daily chart as at May 24, 2012 9Source: Tradesignum)
Based on good financial performance, attarctive valuation & bullish technical outlook, MBL could be a good stock for long-term investment.