For QE30/6/2014, TASCO's net profit increased by 95% q-o-q or 74% y-o-y to RM10 million while revenue increased by 16% q-o-q or 29% y-o-y to RM135 million.
Table: TASCO's last 8 quarterly results
Chart 1: TASCO's last 30 quarterly results
TASCO (closed at RM2.57 yesterday) is now trading at a PE of 8.6 times (based on last 4 quarters' EPS of 30 sen). At this multiple, TASCO is deemed attractively valued for a mid-cap stock with strong growth of 20% in the past 1 year.
TASCO is in an uptrend line (see Chart 2). Tasco has been trapped within a symmetrical triangle, ABC for the past 4 months (see Chart 3). Recently, it broke below that triable at RM2.60. This negative development (a bearish breakout of a triangle) must be rectified soon. At the time of writing this post (9:15am), Tasco recovered to RM2.76. That's a positive development (a bullish breakout of a triangle at RM2.70).
Chart 2: TASCO's weekly chart as at Aug 6, 2014 (Source: Tradesignum)
Chart 3: TASCO's daily chart as at Aug 6, 2014 (Source: Tradesignum)
Based on good financial performance, fairly attractive valuation & still positive technical outlook, TASCO's rating is revised from HOLD to a BUY.
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, TASCO.