Magni: Earnings Continued to Rise

Results Update

In QE31/7/2019, Magni's net profit rose 40% q-o-q or 39% y-o-y to RM30.5 million while revenue rose 40% q-o-q or 20% y-o-y to RM327 million.

Revenue rose 40% q-o-q due to 45%-increase in Garment revenue mainly due to higher sale orders received while packaging revenue slipped by 5.9% amid lower sale orders received.

PBT increased by 50% q-o-q due to 59%-increase in Garment PBT mainly due to higher revenue, better gross profit margin mainly driven by the improvement in operational efficiency, and the lower foreign exchange loss of RM0.011 million versus foreign exchange loss of RM1.126 million in QE30/4/2019. Packaging PBT was 37.9% lower mainly due to weaker revenue, gross profit margin and dividend income.

Table: Magni's last 8 quarterly results


Graph: Magni's last 50 quarterly results

Financial Position

As at 31/7/2019, Magni's financial position was very healthy with current ratio at 5.3 times and gearing ratio at only 0.21 time.

Valuation

Magni (closed at RM5.40 yesterday) has a trailing PE of 7.9 times (based on last 4 quarters' EPS of 68.3 sen). At the same time, Magni  paid quarterly dividend which totaled 23 sen; giving the stock a DY of 4.26%. Overall, Magni is still fairly attractive.

Technical Outlook

Magni has been gradually rising in the past 9 months. It has now surpassed the resistance from the horizontal line at RM5.25 as well its July high at RM5.38. It may continue to climb higher and test the resistance at the horizontal line at RM5.65


Chart: Magni's weekly chart as at Sep 10, 2019 (Source: Malaysiastock.biz)

Conclusion

Based on good financial performance and position, attractive valuation and mildly bullish technical outlook, Magni is a good stock to consider for long-term investment.

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

Magni: Profits Rose Despite Lower Revenue

Results Update

In QE31/1/2019, Magni's net profit rose 54% q-o-q or 14% y-o-y to RM36 million while revenue was mixed- up 21% q-o-q but down 1.4% y-o-y to RM309 million.

Revenue receded slightly by 1.4% y-o-y due to lower revenue from the garment segment (dropped by 1.1% mainly due to lower sale orders received) and lower revenue for the packaging revenue (dropped by 4.2% mainly due to lower sale orders received). Profit before tax improved by 7.7% y-o-y due to 6.4%-increase in PBT from the Garment segment (mainly due to higher foreign exchange gain by RM2.992 million and lower operating expenses incurred) and 46.4%-increase in PBT from the packaging segment (mainly due to lower operating expenses incurred).

Table: Magni's last 8 quarterly results


Graph: Magni's last 48 quarterly results

Financial Position

As at 31/1/2019, Magni's financial position was very healthy with current ratio at 5.4 times and gearing ratio at only 0.14 time.

Valuation

Magni (closed at RM4.66 yesterday) has a trailing PE of 7.5 times (based on last 4 quarters' EPS of 62.15 sen). At the same time, Magni  paid quarterly dividend which totaled 23 sen; giving the stock a DY of 4.9%. Overall, Magni is still fairly attractive.

Technical Outlook

Magni has been trading sideways for the past 1 years, mostly in a range between RM4.00 and RM5.00. Until a breakout of this range has happened, Magni would remain range bound.


Chart: Magni's weekly chart as at Mar 18, 2019 (Source: Malaysiastock.biz)

Conclusion

Based on good financial performance and position plus attractive valuation, Magni is a good stock to consider for long-term investment.

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

Magni: Earnings Stayed Weak

Results Update

In QE30/4/2018, Magni's net profit dropped 35% q-o-q or 48% y-o-y to RM20 million while revenue dropped 30% q-o-q or 26% y-o-y to RM221 million.

Group revenue decreased by 26% q-o-q due to 28%-decline in garment revenue mainly due to lower sale orders received and unfavorable foreign exchange movements; 12%-drop in packaging revenue mainly due to the cessation of offset printing packaging (OPP) business in Q4-FYR 2017; and 3%-dip in revenue of the continuing packaging operations (comprising flexible plastic and corrugated packaging) due to lower sale orders received.

PBT decreased by 50.3% q-o-q due to 51%-drop in garment PBT mainly due to lower revenue, higher foreign exchange loss (by RM3.082 million) and higher operating expenses to revenue ratio; 42%-drop in Packaging PBT mainly due to lower revenue in Q4-FYR 2018; and reversal of provision for OPP business closure costs (RM0.307 million) in Q4-FYR 2017.

Table: Magni's last 8 quarterly results


Graph: Magni's last 45 quarterly results

Valuation

Magni (closed at RM5.10 last Friday) has a trailing PE of 9 times (based on last 4 quarters' EPS of 56.15 sen). Albeit the dividend cut, Magni still pays quarterly dividend which totaled 20 sen in the past 4 quarters; giving the stock a DY of 3.9%. Overall, Magni is still fairly valued.

Technical Outlook

Magni could have broken its long-term uptrend.


Chart 1: Magni's monthly chart as at June 22, 2018 (Source: ShareInvestor.com)

However, Magni has recently broken above its intermediate downtrend line, RR. Magni's immediate support will be at RM4.60-4.70.


Chart 2: Magni's weekly chart as at June 22, 2018 (Source: ShareInvestor.com)

Conclusion

Despite the weaker earnings and bearish technical outlook, I would rate Magni a HOLD to reflect a temporary pause in performance of an outstanding stock.

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

Magni: Profits Stabilize While Revenue Still Sliding

Results Update

In QE31/10/2017, Magni's net profit dropped 28% y-o-y to RM20.5 million while revenue dropped 10% y-o-y to RM252 million. However, net profit rose 5% q-o-q though revenue still dropped 14% q-o-q.

Group revenue dropped y-o-y due to 8.7%-decline in Garment revenue due to lower sale orders received and 18.9%-drop in Packaging revenue due to the cessation of offset printing packaging business in Q4-FYR 2017.

Group PBT dropped 28.0% y-o-y due to 26.3%-drop in Garment PBT which mainly due to lower revenue, higher operating expenses and foreign exchange loss. Packaging PBT decreased by 59.1% y-o-y mainly due to higher raw material costs and operating expenses, and lower revenue

As a result of lower profits, Magni cut its dividend to 4.5 sen from 5 sen paid out in the same quarter last year.

Table: Magni's last 8 quarterly results


Graph: Magni's last 43 quarterly results

Valuation

Magni (closed at RM6.01 yesterday) has a trailing PE of 9 times (based on last 4 quarters' EPS of 66.46 sen). Albeit the dividend cut, Magni still pays quarterly dividend which totaled 21 sen in the past 4 quarters; giving the stock a DY of 3.5%. Overall, Magni is still fairly valued.

Technical Outlook

Magni is still in a long-term uptrend. That uptrend has accelerated twice fom SS to S1-S1 to S2-S2. The support of S2-S2 is at RM6.00. The next support will be at the uptrend line, S1-S1 at RM5.00. The indicator readings are not encouraging; the MACD line is poised to cross below the MACD signal line, the +DMI is dropping against a rising -DMI, and, lastly, Slow Stochastic has broken its uptrend line. All these indicator readings are warning signs that the RM6.00 support may not hold out for long.


Chart: Magni's monthly chart as at Dec 12, 2017 (Source: ShareInvestor.com)

Conclusion

Despite the poorer earnings and dividend cut, Magni is still a good stock for long-term investment. The good entry level may be between RM5.00 and RM5.50.

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

MAGNI: Earnings Plunged

Results Update

Last Thursday (Sep 14), Magni announced its result for QE31/7/2017. Its net profit dropped 49% q-o-q or 17% y-o-y to RM20 million while revenue dropped 2% q-o-q but rose 8% y-o-y to RM294 million.

Revenue dropped y-o-y due to lower Garment revenue which decreased by 0.8% due to unfavorable foreign exchange differences and lower Packaging revenue which dropped 12.7% due to the closure of offset printing packaging business. These were partially offset the higher revenue from the continuing packaging operations which increased by 1.8%.

PBT dropped y-o-y due to lower Garment PBT which decreased by 43.2% mainly due to lower gross profit margin, higher operating expenses and softer revenue; lower Packaging PBT which dipped by 47.9% mainly due to higher raw material costs for corrugated packaging business. In addition, the comparative PBT for the immediate preceding quarter i.e. QE30/4/2017 was inflated by insurance claims (RM0.216 million) and reversal of over provision of business closure costs (RM0.356 million) in QE30/4/2017 by the discontinued packaging operation.

As a result of the sharp drop in profits, Magni cut its dividend to 3.5 sen from 6 or 7 sen in the immediate past 2 quarters. While the dividend cut may conserve its reserve for contingency or for new investment.

Table: Magni's last 8 quarterly results


Graph: Magni's last 42 quarterly results

Valuation

Magni (closed at RM6.16 on Friday) has a trailing PE of 8.6 times (based on last 4 quarters' EPS of 71.39 sen). Albeit the dividend cut, Magni still pays quarterly dividend which totaled 21.5 sen in the past 4 quarters; giving the stock a DY of 3.5%. Overall, Magni is still quite attractively valued.

Technical Outlook

Magni is still in a long-term uptrend, supported by its 10-month EMA line at RM6.00. Below this, Magni may have support from the 20-month EMA line at RM5.00 and then the horizontal line at RM4.50.

Chart 1: Magni's monthly chart as at Sep 15, 2017 (Source: ShareInvestor.com)


Chart 2: Magni's weekly chart as at Sep 15, 2017 (Source: ShareInvestor.com)

Conclusion

Despite the sharp drop in earning and dividend cut, Magni is still a good stock for long-term investment based on attractive valuation. After the sufficient price drop, the stock will be more appealing. The good entry level may be between RM5.00 and RM6.00.

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

Magni: Earnings Continued To Rise

Results Update

For QE30/4/2017, Magni's net profit rose 30% q-o-q or 104% y-o-y to RM38 million while revenue rose 3.6% q-o-q or 54% y-o-y to RM299 million. Group revenue increased by 3.6% q-o-q due to 4.8% increase in Garment revenue (resulting from favourable foreign exchange movements and higher sale orders received) and 5.6%-decline in Packaging revenue (mainly due to the closure of SIPP's business in Q4-FYR 2017). Group PBT increased by 13.7% due to 4.3%-increase in Garment PBT (mainly due to higher revenue and lower foreign exchange loss) and 278.7%-increase in Packaging PBT (which was due to the reversal of SIPP's staff benefits and business closure costs totaling RM0.491 million in Q4-2017, and the absence of provision of SIPP's closure costs of RM2.877 million in Q3-FYR 2017). Stripping of these provision & reversal, packaging PBT for Q4-2017 increased by 11.9% versus Q3-FYR 2017 mainly due to higher other operating income.

Table: Magni's last 8 quarterly results


Graph: Magni's last 33 quarterly results

Valuation

Magni (trading at RM7.41 as at 10:20am) has a trailing PE of 10 times (based on last 4 quarters' EPS of 73.8 sen). Its last 3 years' earning CAGR was at 65%; giving the stock a PEG ratio of less than 0.2x. At this PEG ratio, Magni's valuation is still very attractive. 

Technical Outlook

Magni is in a long-term uptrend.


Chart: Magni's monthly chart as at Jun 29, 2017_10.00 (Source: ShareInvestor.com)

Conclusion

Based on good financial performance, attractive valuation and bullish technical outlook, Magni remains a very good stock for long-term investment. 

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.Results Update

For QE31/1/2017, Magni's net profit rose 3.6% q-o-q or 13.4% y-o-y to RM29.6 million while revenue rose 3.3% q-o-q or 7.5% y-o-y to RM289 million. Revenue increased q-o-q due to 3.7%-increase in Garment revenue as a result of favorable foreign exchange rate but was partially weighed down by lower sale orders received and 0.4%-increase in Packaging revenue as a result of higher sale orders received. PBT increased q-o-q due to higher PBT for Garment PBT of 14.2% mainly due to higher revenue and higher foreign exchange gain (Other operating income) which was partially offset by a 158.5%-drop in packaging PBT mainly due to the provision of SIPP's closure costs of RM2.877 million. Had there been no provision for the closure costs, packaging PBT would have been higher by 18.6% versus the preceding quarter mainly due to better productivity, aided by a slight increase in revenue.

Table: Magni's last 8 quarterly results


Graph: Magni's last 32 quarterly results

Valuation

Magni (trading at RM5.16 yesterday) has a trailing PE of 8.4 times (based on last 4 quarters' EPS of 61.73 sen). Its last 2 years' earning CAGR was at 50%; giving the stock a PEG ratio of less than 0.2x. At this PEG ratio, Magni's valuation is still very attractive. 

Technical Outlook

Magni is in a long-term uptrend. The stock broke above the January 2016 high of RM4.60; signaling the continuation of the long-term uptrend.


Chart 1: Magni's monthly chart as at Mar 16, 2017 (Source: ShareInvestor.com)


Chart 2: Magni's weekly chart as at Mar 16, 2017 (Source: ShareInvestor.com)

Conclusion

Based on good financial performance, attractive valuation and bullish technical outlook, Magni remains a very good stock for long-term investment. 

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

Magni: Earning Growth Slowed

Results Update

For QE31/1/2017, Magni's net profit rose 3.6% q-o-q or 13.4% y-o-y to RM29.6 million while revenue rose 3.3% q-o-q or 7.5% y-o-y to RM289 million. Revenue increased q-o-q due to 3.7%-increase in Garment revenue as a result of favorable foreign exchange rate but was partially weighed down by lower sale orders received and 0.4%-increase in Packaging revenue as a result of higher sale orders received. PBT increased q-o-q due to higher PBT for Garment PBT of 14.2% mainly due to higher revenue and higher foreign exchange gain (Other operating income) which was partially offset by a 158.5%-drop in packaging PBT mainly due to the provision of SIPP's closure costs of RM2.877 million. Had there been no provision for the closure costs, packaging PBT would have been higher by 18.6% versus the preceding quarter mainly due to better productivity, aided by a slight increase in revenue.

Table: Magni's last 8 quarterly results


Graph: Magni's last 32 quarterly results

Valuation

Magni (trading at RM5.16 yesterday) has a trailing PE of 8.4 times (based on last 4 quarters' EPS of 61.73 sen). Its last 2 years' earning CAGR was at 50%; giving the stock a PEG ratio of less than 0.2x. At this PEG ratio, Magni's valuation is still very attractive. 

Technical Outlook

Magni is in a long-term uptrend. The stock broke above the January 2016 high of RM4.60; signaling the continuation of the long-term uptrend.


Chart 1: Magni's monthly chart as at Mar 16, 2017 (Source: ShareInvestor.com)


Chart 2: Magni's weekly chart as at Mar 16, 2017 (Source: ShareInvestor.com)

Conclusion

Based on good financial performance, attractive valuation and bullish technical outlook, Magni remains a very good stock for long-term investment. 

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

Magni: Next Upleg Could Have Started

Magni broke above its "horizontal line" at RM4.38-4.40 today to close at RM4.54. If the share price can stay above the breakout level for next 1/2 day(s), Magni may continue with its prior uptrend. As noted in my recent post, Magni's financial performance has been very impressive in QE31/10/2016. Based on technical breakout, Magni - a good long-term investment- could well be a good trading BUY too.


Chart 1: Magni's weekly chart as at Jan 16, 2017 (Source: Chartnexus)


Chart 2: Magni's monthly chart as at Jan 16, 2017 (Source: Chartnexus)

Note:
I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

Magni: Another Outstanding Quarter!

Results Update

For QE31/10/2016, Magni's net profit rose 21% q-o-q or 32% y-o-y to RM28.5 million while revenue rose 3% q-o-q or 42% y-o-y to RM280 million. Revenue increased q-o-q due to higher garment and packaging revenue of 3.4% and 0.6% respectively mainly due to higher orders received. PBT increased q-o-q due to higher PBT for  garment of 23.3% due to higher revenue and lower operating expenses resulting from vigilant cost control but was partially weighed down by lower foreign exchange gain and lower dividend income, which offset lower PBT for packaging PBT mainly due to higher operating expenses.

Table: Magni's last 8 quarterly results


Graph: Magni's last 31 quarterly results

Valuation

Magni (trading at RM4.11 yesterday) has a trailing PE of 6.9 times (based on last 4 quarters' EPS of 59.6 sen). Its last 2 years' earning CAGR was at 53%; giving the stock a PEG ratio of less than 0.2x. At this PEG ratio, Magni's valuation is still very attractive. 

Technical Outlook

Magni is in a long-term uptrend. There are negative technical reading; MACD has just crossed below its MACD signal line and ADX has hooked down. This is reflected in the intermediate downward channel, which has support at RM3.60-3.70 & resistance at RM4.30-4.40.


Chart 1: Magni's monthly chart as at Dec 13, 2016 (Source: ShareInvestor.com)


Chart 2: Magni's weekly chart as at Dec 13, 2016 (Source: ShareInvestor.com)

Conclusion

Based on good financial performance and attractive valuation, Magni remains a very good stock for long-term investment. Its short-term technical weakness warrants close attention but 

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

MAGNI: Earnings Rebounded

Results Update

For QE31/7/2016, Magni's net profit rose 25% q-o-q or 51% y-o-y to RM23.5 million while revenue rose 40% q-o-q or 40% y-o-y to RM271 million. Revenue increased q-o-q due to 48%-increase in sales for garment segment but a slight 2%-drop in sales for packaging segment. PBT increased by 29% q-o-q due to 33%-increase PBT for Garment which was mainly due to higher revenue and higher currency exchange gain, partially weighed down by higher operating expenses while PBT for Packaging dipped by 14.3% which was mainly due to the cumulative effect of lower revenue and higher operating expenses.

Table: Magni's last 8 quarterly results


Chart 1: Magni's last 30 quarterly results

Valuation

Magni (trading at RM4.15 last Thursday) has a trailing PE of 7.5 times (based on last 4 quarters' EPS of 55.35 sen). Its last 2 years' earning CAGR was at 45%; giving the stock a PEG ratio of 0.2x. At this PEG ratio, Magni's valuation is still very attractive. 

Technical Outlook

Magni is in a long-term uptrend. There are negative technical reading; MACD has just crossed below its MACD signal line and ADX has hooked down. Both are signaling a possible correction in the near term.


Chart 2: Magni's monthly chart as at Sep 15 2016 (Source: ShareInvestor.com)

The weekly chart shows that Magni is moving in a gradual downward channel, with support at RM3.80 & resistance at RM4.40. MACD looks poised to cross above the MACD signal line. 


Chart 3: Magni's daily chart as at Sep 15 2016 (Source: ShareInvestor.com)

Conclusion

Based on good financial performance and attractive valuation, Magni remains a good stock for long-term investment.

Note:

I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

Magni: Earnings Dropped Sequentially

Results Update

For QE30/4/2016, Magni's net profit dropped 28% q-o-q but rose 14% y-o-y to RM18.8 million while revenue dropped 28% q-o-q but rose 10% y-o-y to RM194 million. Revenue dropped q-o-q due to 32%-drop in sales for garment segment, offset by a 4%-increase in sales for packaging segment. PBT decreased q-o-q mainly due to lower revenue and lower other operating income arising from higher currency exchange loss.

Table: Magni's last 8 quarterly results


Chart 1: Magni's last 29 quarterly results

Valuation

Magni (trading at RM4.12 yesterday) has a trailing PE of 8.16 times (based on last 4 quarters' EPS of 50.46 sen). At this PER, Magni's valuation is still fairly attractive. 

Technical Outlook

Magni is in a long-term uptrend. MACD is curving down a bit but is still comfortably above the MACD signal line. ADX is is curving down a bit and threatening to cut below the ADXR. Both readings suggest that a temporary top may be at hand.


Chart 2: Magni's monthly chart as at Jun 23 2016 (Source: ShareInvestor.com)

The daily chart shows that Magni has just broken to the downside of a symmetrical triangle. If it continue to slide below the psychological support at RM4.00, it may dipped to test the 20-month EMA line support at RM3.50. (Note: MAgni is now trading at RM4.07 as at 4.45pm).


Chart 3: Magni's daily chart as at Jun 23 2016 (Source: ShareInvestor.com)

Conclusion

Based on good financial performance and attractive valuation, Magni remains a good stock for long-term investment. However if you wish to sidestep a temporary decline, you may consider a trading SELL if the stock drops below the RM4.00 mark & re-enter at RM3.50-3.60.

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, Magni.

Magni: Earnings continued to grow

Results Update

For QE31/1/2016, Magni's net profit rose 20% q-o-q or 49% y-o-y to RM26 million while revenue rose 36% q-o-q or 34% y-o-y to RM269 million. Revenue for the current quarter increased q-o-q mainly due to higher revenue for the garment & packaging segments, increase of 42.2% and 3.2% respectively mainly due to higher sales orders received. PBT increased by 19% q-o-q mainly due to higher revenue but was aprtially offset by lower other operating income (due to lower currency exchange gain).

Table: Magni's last 8 quarterly results


Chart 1: Magni's last 28 quarterly results

Valuation

Magni (trading at RM4.48 last Friday) has a trailing PE of 9.1 times (based on last 4 quarters' EPS of 49.04 sen). At this PER, Magni's valuation is still attractive. 

Technical Outlook

Magni is in a strong uptrend. Indicators are generally positive.


Chart 2: Magni's monthly chart as at Mar 18, 2016 (Source: ShareInvestor.com)

Conclusion

Based on good financial performance, attractive valuation & positive technical outlook, Magni remains a good stock for long-term investment.

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, Magni.

Magni: Earnings continued to rise

Results Update

For QE31/10/2015, Magni's net profit rose 39% q-o-q or 170% y-o-y to RM21.6 million while revenue rose 2% q-o-q or 22% y-o-y to RM197 million. Revenue increased q-o-q mainly due to the favorable effects of USD against Ringgit arising from export of garments. PBT for the current quarter increased q-o-q mainly due to favorable currency exchange rate, lower operating expenses and higher other operating income.

Table: Magni's last 8 quarterly results


Chart 1: Magni's last 27 quarterly results

Valuation

Magni (trading at RM4.49 on Dec 23, 2015) has a trailing PE of 6.8 times (based on last 4 quarters' EPS of 65.7 sen). At this PER, Magni's valuation is still attractive. 

Technical Outlook

Magni is in an upward channel with support at RM2.80 & resistance at RM4.80.


Chart 2: Magni's monthly chart as at Dec 23, 2015 (Source: ShareInvestor.com)

From the daily chart, we can see a line ('AB') connecting all the recent peaks. If the stock can breajk through this at RM4.60, it may go to RM5.50-5.60.


Chart 3: Magni's daily chart as at Dec 23, 2015 (Source: ShareInvestor.com)
 

Conclusion

Based on good financial performance, attractive valuation & positive technical outlook, Magni is still a good stock for long-term investment.

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, Magni.