Allianz- Top-line & bottom-line improved further

Result Update

For QE30/6/2013, Allianz's net profit increased by 16% q-o-q or 8% y-o-y to RM62 million while revenue increased by 4% q-o-q or 16% y-o-y to RM893 million. Bottom-line improved q-o-q due to higher profit before tax from the life insurance operations. Top-line improved due to higher earned premium from life insurance operation of 5.3% as well as from the general insurance operation of 2.2%.


Table: Allianz's last 8 quarterly results


Chart 1: Allianz's last 30 quarterly results

Valuation

Allianz (closed RM9.62 yesterday) is now trading at a PE of 14.3 times (based on last 4 quarters' EPS of 67.5 sen). At this PE, Allianz is deemed fairly attractive.

Technical Outlook

Allianz is still in an uptrend, with immediate support at the 20-week SMA line at RM9.33. Its immediate ressitance would be its recent high at RM10.58.


Chart 2: Allianz's weekly chart as at Aug 28, 2013 (Source: quickcharts)

Conclusion

Based on satisfactory financial performance, fairly attractive valuation & positive technical outlook, Allianz is expected to continue to rise.

Note: 
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, Allianz.