Thursday, July 19, 2012
Huayang- top-line & bottom-line increased
Huayang has announced its results for QE30/6/2012. Its net profit increased by 26% q-o-q or 43% y-o-y to RM16.5 million while turnover rose by 16% q-o-q or 59% y-o-y to RM98 million.
Table: Huayang's last 8 quarterly results
Chart 1: Huayang's last 16 quarterly results
Huayang (closed at RM1.97 yesterday) is now trading at a PE of 4.9 times (based on last 4 quarters' EPS of 40 sen). At this PE, Huayang is deemed attractive.
Huayang is in a steady uptrend since breaking above the 'horizontal' resistance at RM0.95.
Chart 2: Huayang's monthly chart as at July 18, 2012 (Source: Tradesignum)
Based on good financial performance, attractive valuation & positive technical outlook, Huayang is rated a good stock for long-term investment.