Results Update
For QE30/4/2015, Prlexus's net profit
dropped 70% q-o-q by 6% y-o-y to RM2.1 million while revenue was mixed-
dropped 20% q-o-q but rose 25% y-o-y to RM67 million. Revenue dropped q-o-q due to lower revenue from the apparel division and advertising division of RM16.4 million and RM 865,000 respectively during the quarter. Profit dropped q-o-q as a result of lower revenue.
Table 1: Prlexus's last 8 quarterly results
Chart 1: Prlexus's last 27 quarterly results
Valuation
Prlexus (closed at RM2.16 yesterday) is now
trading at a PE of 11 times (based on last 4 quarters' EPS of 20 sen).
At this PER, Prlexus is deemed fully valued.
Technical Outlook
Prlexus is in a long-term uptrend. Its immediate resistance is its all-time high at RM2.30 while its good support level is at
the 10-month SMA line at RM1.60.
Chart 2: Prlexus's monthly chart as at Jun 23, 2015 (Source: ShareInvestor)
Conclusion
Based on weaker financial performance and full valuation, it may
be time to take profit on Prlexus.
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, Prlexus.
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