For QE30/6/2015, Harbour's net profit increased by 26% q-o-q or 23% y-o-y to RM15.6 million while its revenue increased by 17% q-o-q or 48% y-o-y to RM147 million. Revenue & profits increased q-o-q due mainly to higher revenue & profits from the logistics services and machinery division- resulted from higher volume of cargo freighting and project cargoes handled.
Table: Harbour's last 8 quarterly results
Chart 1: Harbour's last 32 quarterly results
Valuation
Harbour (closed at RM2.19 yesterday) is now trading at a PE of 7.7 times (based on last 4 quarters' EPS of 28.6 sen). At this PER, Harbour is deemed attractively valued.
Technical Outlook
Harbour is in an uptrend. Its immediate support is at the horizontal line at RM2.00.
Chart 2: Harbour's monthly chart as at Aug 24, 2015 (Source: Share Investor)
Conclusion
Based on good financial performance, attractive valuation & still positive technical outlook, I would revise my rating for Harbour from TAKE PROFIT to BUY.
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, Harbour.
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