This is a personal weblog, reflecting my personal views and not the views of anyone or any organization, which I may be affiliated to. All information provided here, including recommendations (if any), should be treated for informational purposes only. The author should not be held liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.
Wednesday, May 08, 2013
Harta- top-line & bottom-line improved further
Result Update
For QE31/3/2013, Harta's net profit rose by 3% q-o-q or 25% y-o-y to RM62 million while revenue rose by 4% q-o-q or 12% y-o-y to RM270 million. The improved bottom-line & top-line was due to increase in sales volume.
Table: Harta's last 8 quarterly results
Chart 1: Harta's last 22 quarterly results
Valuation
Harta (at RM5.57 at end of morning session) is trading at a PE of 17.4 times (based on last 4 quarters' EPS of 32 sen). At this PE multiple, Harta is deemed fully valued.
Technical Outlook
Harta is in an upward channel. It has just broken above the horizontal line RM5.30 and it may test the upper boundary of the channel at RM5.60-5.65. A breakout of that channel would lead to an acceleration in the current gradual move. Given the high valuation, I believe Harta's rise would be subdued and prices would remain within the channel.
Chart 2: Harta's daily chart as at May 8, 2013_12.30pm (Source: quickcharts)
Conclusion
Based on satisfactory financial performance & positive technical outlook, Harta remained a good stock for long-term investment.
Note:
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, Harta.
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