Civmec - DBS Research 2023-02-10: Engineering Growth; Dividend Surprise

Civmec - Engineering Growth; Dividend Surprise

Published:
CIVMEC LIMITED (SGX:P9D) | SGinvestors.ioCIVMEC LIMITED (SGX:P9D)

1HFY23 revenue in line with estimates, with positive momentum in gross margins despite inflationary pressures.

  • - Read this at SGinvestors.io -
  • Revenue 1HFY23 increased 8% y-o-y to A$418.9m mainly due to increased activity levels and timing of revenue recognition on projects.
  • Gross profit for 1HFY23 increased 23% y-o-y to A$51.8m reflecting the increase in revenue and improvement in gross profit margins from 10.8%/11.6% (1HFY22/2HFY22) to 12.4%, despite inflationary pressures (e.g., raw materials, fuel, labour) suggesting that cost pressures were well managed.

1HFY23 net profit remained robust.

  • - Read this at SGinvestors.io -

1HFY23 operating cashflows turned positive, the first since June 2016.

  • Read more at SGinvestors.io.




Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.




Elizabelle PANG DBS Group Research | Paul YONG DBS Research | https://www.dbs.com/insightsdirect/ 2023-02-10



Previous report by DBS:
2022-09-02 Civmec Limited - Expansion Plan A Positive Signal.

Price targets by other brokers at Civmec Target Prices.

Listing of research reports at Civmec Analyst Reports.

Relevant links:
Civmec Share Price History,
Civmec Announcements,
Civmec Dividends & Corporate Actions,
Civmec News Articles





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