For QE30/6/2017, IBhd's net profit rose 6% q-o-q or 34% y-o-y to RM19.6 million while revenue rose 24% q-o-q or 47% y-o-y to RM128 million. IBhd's revenue and profit before tax rose q-o-q due to "the continuous growth of the Property Development segment".
Table: IBhd's last 8 quarterly P&L
Graph 1: IBhd's last 20 quarterly P&L
Graph 2: IBhd's unbilled Sales for last 20 quarters
I-Bhd (traded at RM0.615 this morning) has a trailing PER of 8.7x (based on last 4 quarters' EPS of 7.04 sen). At this PER, I-Bhd is deemed fairly valued.
IBhd's gradual uptrend seems to have ended with the decline last week. For now, IBhd is likely to move sideways between RM0.56 & RM0.60.
Chart 1: I-Bhd's weekly chart as at Jul 17, 2017 (Source: Shareinvestor.com)
Chart 2: I-Bhd's monthly chart as at Jul 17, 2017 (Source: Shareinvestor.com)
Based on good financial performance and fair valuation, I assign a rating of HOLD for IBhd. Its share price performance is likely to be unexciting for the next few quarters due to mildly negative technical outlook and weaker revenue.
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