For QE31/12/2016, Gasmsia's profit after zakat and taxation rose 19% q-o-q or 402% y-o-y to RM51.6 million while revenue dropped 2% q-o-q or 10% y-o-y to RM1.05 billion. Profits rose q-o-q mainly due to higher gross profit in line with the increase in volume of gas sold and tolling fees.
Table: Gasmsia's last 14 quarterly results
Graph: Gasmsia's P&L for last 20 quarterly results
Gasmsia (closed at RM2.76 yesterday) is now trading at a PE of 21.5 times (based on lats 4 quarters' EPS of 12.86 sen). Its dividend yield is decent at 2.9%. At this PER & DY, Gasmsia is deemed fairly valued.
Gasmsia broke above its downtrend line at RM2.40 in August last year. It is now hoovering around the horizontal support of RM2.75-2.80. Its next resistance will come from the horizontal line at RM3.10.
Chart: Gasmsia's weekly chart as at Feb 15, 2017 (Source: MalaysiaStock.Biz)
Based on improved financial performance and positive technical outlook, Gasmsia is considered a good stock for long-term investment.
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