Recent Business News
Recent Financial Performance
Its latest result was for QE30/9/2018, which was released in November 26, 2018. For that quarter, Inari's net profit rose 5.3% q-o-q but dropped 12.0% y-o-y to RM60.2 million while revenue was mixed- up 8.2% q-o-q but down 12.7% y-o-y to RM326 million. Its revenue dropped y-o-y due to lower volume loading. PBT dropped 11.9% y-o-y mainly due to the foreign exchange fluctuation during the current quarter.
Table: Inari's last 8 quarterly results
Graph: Inari's last 32 quarterly results
As at 30/9/2018, Inari's financial position is deemed very healthy with good current ratio at 3.4x while gearing ratio improved to 0.3x.
Inari (closed at RM1.23 last Friday) is now trading at a PER of 16 times (based on last 4 quarters' EPS of 7.7 sen). At this PER, Inari is deemed fairly attractive.
Inari has broken below its long-term uptrend line, SS at RM1.50 last week. Its immediate support will be at horizontal line at RM1.10 and then the psychological level of RM1.00.
Chart: Inari's weekly chart as at Jan 4, 2019 (Source: Malaysiastock.biz)
Based on good, albeit weaker financial performance, good financial position and fairly attractive valuation, Inari is a good stock to consider for long-term investment. However its current bearish technical outlook may lead to further price weakness until its near-term financial performance shows clarity after the reported lower sales by Apple.
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