For QE31/12/2017, Freight's net profit dropped marginally by 1% q-o-q but rose 16% y-o-y to RM5.9 million while revenue rose 3.4% q-o-q & 14.4% y-o-y to RM132 million. Revenue increased q-o-q mainly due to higher activities in Seafreight, 3PL & Warehousing and Landfreight services. PBT decreased slightly by 5% due to higher freight cost and higher share of loss from associates.
Table: Freight's last 8 quarterly results
Graph: Freight's last 39 quarterly results
As at 31/122017, Freight's financial position is deemed satisfactory with current ratio at 2.4x and gearing ratio at 0.6x.
Freight (closed at RM1.21 yesterday) is trading at a PE of 9.9 times (based on last 4 quarters' EPS of 12.25 sen). The stock is deemed fairly valued.
Freight is struggling to hang onto its long-term uptrend line, SS.
Chart 1: Freight's monthly chart as at Feb 21, 2018 (Source: Malaysiastock.biz)
Chart 2: Freight's weekly chart as at Feb 21, 2018 (Source: Malaysiastock.biz)
Based on good financial performance and position, Freight is considered a good stock for long-term investment.
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