- Aztech’s 3Q22 net profit of S$21m (+16% y-o-y/-28% q-o-q) is in line with our forecast despite a fair value loss on a derivative financial instrument of S$15m. IoT devices continued to be a key growth driver, driving revenue growth of 55% y-o-y.
- - Read this at SGinvestors.io -
- Maintain BUY with a 6% higher target price of S$1.05.
Aztech's 3Q22 earnings in line with our expectation.
- Aztech Global (SGX:8AZ)’s 3Q22 net profit of S$20.8m (+16% y-o-y, -28.3% q-o-q) is largely in line with our forecast of S$22m. 9M22 earnings of S$63.7m (+34.2% y-o-y) account for 71% of our 2022 estimate. See Aztech's announcement dated 03 Nov 2022.
- - Read this at SGinvestors.io -
- cost control measures, and
- an increase in interest income due to higher fixed deposit rate.
- However, this was partially offset by the fair value loss on financial derivatives totalling S$15.4m, due to the weakening of renminbi relative to the US dollar.
Orderbook remains stable with three-pronged component management approach for component tightness.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
John Cheong UOB Kay Hian Research | https://research.uobkayhian.com/ 2022-11-04
Read also UOB's most recent report:
2024-02-26 Aztech Global - 2023 Results Above Expectations; Raise Target Price By 13%.
Previous report by UOB:
2023-10-17 Aztech Global - 3Q23 Record-high Earnings Beat Expectations; Moderately Optimistic About Outlook.
Price targets by 2 other brokers at Aztech Target Prices.
Listing of research reports at Aztech Analyst Reports.
Relevant links:
Aztech Share Price History,
Aztech Announcements,
Aztech Dividends & Corporate Actions,
Aztech News Articles
