ZHULIAN has another good quarter

1Q 2010 Financial Results

Compare to 1Q 09, company revenue increase 21% to RM86.3m from RM71.1. Net income jumped to RM24.9m compare to RM16.8m same quarter preceding year. It is a increase of 48%.

Immediate preceding quarter comparison shows that company revenue was RM0.9m slightly lower, mainly due to drop in sales overseas but offset by better local sales. Anyhow, net earning for the current quarter still able to match preceding quarter with RM24.9m.

Dividend of RM0.03 was announced, ex on 10th May 2010.

Technical Outlook
Chart wise, Zhulian uptrend is pretty stabe. I notice that every quarterly announcement will trigger another price rise. I think will be the same for the next few days.

Stock Valuation
I came out with EPS RM0.269(ttm), rather then using EPS for FY09. With today's closing of RM2.29, it is trading at P/E 8.5. It is worth to buy.

Overall
We has been assured with another promising quarter today. Zhulian is a very simple stock to play, just accumulate to let it growth.