GAMUDA FY2011 result update

FY31/7/2011
Financial Result
For the current quarter, the group recorded a revenue and profit before tax of RM810.6m and RM151.1 as compare to RM714.7m and RM115.2m in the preceding year comparative quarter.
Company revenue and profit before tax for FY2011 also jumped 8.9% and 32.1% to RM2673.2m, RM544.5m respectively.

Increase in profit from all the division has send Gamuda for another good year. Engineering and Construction division contribute RM143.32m, Property Development and Club Operations contribute RM149.94m and Water and Expressway concessions put RM251.26m into company's perk. 

Technical Outlook
Couple of months ago, i did comment about GAMUDA technically in a "do-or-die" situation. Share price broke above resistance and looks promising. On the other end, "head and shoulder" is waiting if things went wrong.
 As i look back the chart today, it had pan out exactly the way i thought. However, i'm not going to discuss anymore about the past. Always look back will get you sore neck!!
Share price has find a support at RM2.86, one of the support line from Fibonacci. Its also start of the uptrend line 15months ago. I actually think that the sharp sold down recently need some time to absorb. Give it a miss for now and we'll have another look in a forthnight.

Stock Valuation
GAMUDA is trading at RM2.90. Base on FY2011 EPS of RM0.207, it is trading at P/E14x. Company's NTA improve to RM1.79 also means that it is currently trading at P/BV of 1.6x. Base on this two ratio, i think Gamuda is pretty attractive.

Overall
Euro and US economy crisis has make the market panic, lose their direction. With another year of great financial result, backed by good fundamental. I think GAMUDA share deserve a better price. The only reason i can think of is Institutional investor and fund managers pulling off. Shall we follow the "smart money" to get out or choose to be "not so smart".... i don't know!