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Thursday, August 29, 2013
Allianz- Top-line & bottom-line improved further
Result Update
For QE30/6/2013, Allianz's net profit increased by 16% q-o-q or 8% y-o-y to RM62 million while revenue increased by 4% q-o-q or 16% y-o-y to RM893 million. Bottom-line improved q-o-q due to higher profit before tax from the life insurance operations. Top-line improved due to higher earned premium from life insurance operation of 5.3% as well as from the general insurance operation of 2.2%.
Table: Allianz's last 8 quarterly results
Chart 1: Allianz's last 30 quarterly results
Valuation
Allianz (closed RM9.62 yesterday) is now trading at a PE of 14.3 times (based on last 4 quarters' EPS of 67.5 sen). At this PE, Allianz is deemed fairly attractive.
Technical Outlook
Allianz is still in an uptrend, with immediate support at the 20-week SMA line at RM9.33. Its immediate ressitance would be its recent high at RM10.58.
Chart 2: Allianz's weekly chart as at Aug 28, 2013 (Source: quickcharts)
Conclusion
Based on satisfactory financial performance, fairly attractive valuation & positive technical outlook, Allianz is expected to continue to rise.
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, Allianz.
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3 comments:
Allianz has been moving up quite sometime, it should going down soon, how it could be possible still moving up ?
Hi Alex,
What is your opinion about TDM with it recent drop? Thank you
Hi Chun Mun
TDM should have good support at RM0.75-0.77.
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