Monday, May 20, 2013

Allianz- top-line & bottom-line still growing

Result Update

For QE31/3/2013, Allianz's net profit increased by 20% q-o-q or 1% y-o-y to RM54 million whiel revenue increased by 1% q-o-q or 17% y-o-y to RM862 million. Bottom-line improved q-o-q due to higher profit before tax from the general insurance operations.

Table: Allianz's last 8 quarterly results

Chart 1: Allianz's last 29 quarterly results


Allianz (closed RM9.50 on May 17, 2013) is now trading at a PE of 14.4 times (based on last 4 quarters' EPS of 66 sen). With a CAGR of 17%, Allianz's PEG ratio is 0.85 time. Thus Allianz is deemed fairly attractive, with upside of 20% (or commanding a PE of 17 times).

Technical Outlook

Allianz is still in an uptrend, with immediate support at the psychological RM9.00 mark and then at the horizontal line of RM8.50. Immediate resistance will be the psychological RM10.00 mark.

Chart 2: Allianz's weekly chart as at May 17, 2013 (Source: quickcharts)


Based on improving financial performance, fairly attractive valuation & positive technical outlook, Allianz is expected to continue to rise.

In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, Allianz.

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