Imaspro is involved in the manufacturing of pesticides and plant micronutrients, distribution and agency of pesticides and other agrochemicals, and trading of pesticides and other agrochemicals.
Imaspro has just announced its results for 2Q2008 which ended 31st December 2007. Its net profit has increased by 67.2% q-o-q or 60.7% y-o-y to RM4.4 million, while turnover has jumped by 49.1% q-o-q or 41.6% y-o-y to RM33.6 million. The big improvement in Imaspro's performance is attributable to significant increase in its export sales. Imaspro's export sales for 1H2008 account for about 54% of its total sales, as compared to about 42% for the same period last year.
If Imaspro can maintain its performance, its full-year EPS may exceed 20 sen. Based on its closing price as at February 4th of RM1.29, it is now trading at a PE of 6.5 times.
From the chart below, we can see that Imaspro share price has been drifting lower for the past 12 months. It hit a high of RM1.76 in January 2007 and recorded a recent low of RM1.04 about 2 weeks ago. Imaspro share price must surpass the downtrend line resistance at RM1.30, failing which its near term technical outlook remained bearish.
Chart: Imaspro's weekly chart as at January 31, 2008 (courtesy of Quickcharts)
Based on its improved financial performance, Imaspro could be a good medium-term BUY. However, its share price must surpass the RM1.30 level before the technical picture can turn positive.
wat do u think about NATBIO? care to comment on its TA & FA?
ReplyDeleteNatbio is an attractively price stock. Listed in May 2007, it is involved in the beverage business. Its 9-m results ended 30/11/2007 seems to indicate that it may fall short of its projected FY2008 performance, the shortfall is only about 5 to 8% (quite acceptable). For example, I expect it to achieve a full-year net profit of RM39 mil on a turnover of RM181 mil. This compared to a projected net profit of RM42 mil & turnover of RM192 mil.
ReplyDeleteOn an estimated full-year EPS of 13 sen, it is now trading at a PE of 7.5 times. Price to book is at 1.5 times. If one were to deduct the FD per share of 26 sen from the share price, the share would be trading at a PE of only 5.5 times.
Nevertheless, the share price performance has been very disappointing. After recording a high of RM1.97 in June 2007, the share price has been drifting lower. At the present price of RM0.98, a shareholder who bought the share at the IPO stage & still holding onto it, would be looking at a paper loss of 50 sen per share.
Based on cheap valuation, I believe Natbio is a good BUY.