Market Cap S$277.9 million | Current PE 14.9x | Dividend Yield 1.4%.
Bloomberg data
1Q earnings more than doubled
On 13 May, Innovalues posted 1QFY2015 revenue that grew 19.0% to S$29.1 million. About 79.8% of this came from its automotive (AU) components segment.
AU segment revenue grew 17.6% year-on-year to S$23.2 million, driven by increased orders from customers in the USA and in China.
Its office automation segment contributed S$5.7 million (20.0%) to Group revenue.
1QFY2015 net profit more than doubled to S$5.5 million (up 110.1% year-on-year), repeating its stellar performance in 4QFY2014.
Net profit margins also expanded by 8.2 percentage points, on improvement in sales mix, as well as operational efficiency and productivity.
On 14 May, Maybank Kim Eng analyst John Cheong maintained his ‘Buy’ call on Innovalues with a target price of S$1. His target price is based on 14x FY15 P/E, in line wth peer average.
KGI Securities also has a 'Buy' call. On 15 May, KGI Securities analyst Renfred Tay raised his target price on Innovalues to 98.5 cents (based on 14x FY15 P/E).
