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.
Hi Alex,
ReplyDeleteWhat's your comment on yeelee latest financial result?
Rgds
Hi Billy Teo
ReplyDeleteYeelee'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.
ReplyDeleteWhat's the use, even if the result is good? Retailers are marginalized.