Result Update
For QE30/6/2013, DLady's net profit increased by 19% q-o-q or 15% y-o-y to RM35 million while its revenue increased by 21% q-o-q or 15% y-o-y to RM250 million. The improved in top-line and bottom-line was contributed by higher sales of powder and liquid products.
Table: DLady's last 8 quarterly results
Chart 1: DLady's last 21 quarterly results
Valuation
DLady (closed at RM46.20 yesterday) is now trading at a PE of 23 times (based on last 4 quarters' EPS of 202 sen). With the earning growth rate of 18%, DLady's PEG ratio is at 1.2 times. As such, Dlady is deemed fully valued.
Technical Outlook
DLady broke its uptrend line, SS and is now moving in a sideway. Its immediate support is at the horizontal line at RM45. The next support is at the horizontal line RM41.00.
Chart 2: DLady's weekly chart as at Aug 28, 213 (Source: Quickcharts)
Conclusion
Despite good financial performance, DLady's outlook is dimmed due to mildly negative technical outlook and unattractive valuation. As such, I maintained the rating SELL INTO STRENGTH for now.
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, DLady.
3 comments:
Hi Alex,
What's your comment on yeelee latest financial result?
Rgds
Hi Billy Teo
Yeelee's results is good. Its half-year EPS is 9.7 sen. This would translate to a full-year EPS of 19.4 sen. Yeelee at RM1.16 now would have a PE of only 6.0 times. That's a steal for a consumer stock.
Yeelee is very stingy with dividend payout. No bonus share given.
What's the use, even if the result is good? Retailers are marginalized.
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