Civmec - Engineering Growth; Dividend Surprise
CIVMEC LIMITED (SGX:P9D)
- Refer to Civmec's announcement dated 09 Feb 2023 for 1HFY23 (Jul to Dec 2022) earnings –
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 2 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
