Friday, December 21, 2007

Haio's good performance continued

Haio reported its results for QE31/10/2007 recently. Its net profit increased by 28.8% q-o-q or 84.2% y-o-y to RM9.1 million while its turnover has grown 35.8% q-o-q or 92.3% y-o-y to RM80.5 million. If you compared its last 4 quarters' results with the preceding 4 quarters', you will see that its net profit has jumped by 116% from RM13.4 million to RM28.9 million, while turnover has increased by 63.1% from RM152 million to RM248 million.

Based on its closing price of RM3.26 as at December 21 & its last 4 quarters' EPS totaling 40.3 sen, Haio is now trading at a trailing PE of 8 times. This means that Haio is still relatively inexpensive.

Haio is still moving in a strong & steep uptrend. Immediate uptrend line support is RM2.95-3.00.

Chart: Haio's weekly chart as at December 21 (courtesy of Quickcharts)

Based on cheap valuation, Haio is still a good BUY for the medium-term.

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