Thursday, August 29, 2013

DLady- bottom-line rebounded


Result Update

For QE30/6/2013, DLady's net profit increased by 19% q-o-q or 15% y-o-y to RM35 million while its revenue increased by 21% q-o-q or 15% y-o-y to RM250 million. The improved in top-line and bottom-line was contributed by higher sales of powder and liquid products.


Table: DLady's last 8 quarterly results


Chart 1: DLady's last 21 quarterly results

Valuation

DLady (closed at RM46.20 yesterday) is now trading at a PE of 23 times (based on last 4 quarters' EPS of 202 sen). With the earning growth rate of 18%, DLady's PEG ratio is at 1.2 times. As such, Dlady is deemed fully valued.

Technical Outlook

DLady broke its uptrend line, SS and is now moving in a sideway. Its immediate support is at the horizontal line at RM45. The next support is at the horizontal line RM41.00.


Chart 2: DLady's weekly chart as at Aug 28, 213 (Source: Quickcharts)

Conclusion


Despite good financial performance, DLady's outlook is dimmed due to mildly negative technical outlook and unattractive valuation. As such, I maintained the rating SELL INTO STRENGTH for now.

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, DLady.

3 comments:

Billy Teo said...

Hi Alex,

What's your comment on yeelee latest financial result?

Rgds

Alex Lu said...

Hi Billy Teo

Yeelee's results is good. Its half-year EPS is 9.7 sen. This would translate to a full-year EPS of 19.4 sen. Yeelee at RM1.16 now would have a PE of only 6.0 times. That's a steal for a consumer stock.

Wong said...

Yeelee is very stingy with dividend payout. No bonus share given.

What's the use, even if the result is good? Retailers are marginalized.