- BRC Asia (SGX:BEC) reported lower 1QFY23 revenue (-4.5% y-o-y) of S$341.2m and net profit of S$11.7m (-12.2% y-o-y), both below our expectations. The underperformance was due to rising operating costs, an unfavourable product mix and Singapore’s Heightened Safety period dragging down delivery volumes.
- - Read this at SGinvestors.io -
BRC Asia reported weak 1QFY23 results, below expectations.
- Despite 1QFY23 (Oct to Dec 2022) being a seasonally slow quarter, BRC Asia reported weak 1QFY23 net profit of S$11.7m (-12.2% y-o-y, -61.0% q-o-q), forming 13.1% of our full-year estimates and below our expectations.
- - Read this at SGinvestors.io -
- BRC Asia's 1QFY23 gross (-0.5ppt y-o-y, -5.5ppt q-o-q) and net margins (-0.3ppt y-o-y, -4.3ppt q-o-q) fell respectively.
Insignificant reversal of provisions.
- Read more at SGinvestors.io.
Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
Llelleythan Tan UOB Kay Hian Research | John Cheong UOB Kay Hian | https://research.uobkayhian.com/ 2023-03-11
Read also UOB's most recent report:
2025-03-07 BRC Asia - Soft 1QFY25 Results As Margins Compress.
Previous report by UOB:
2024-12-05 BRC Asia - FY24 Soft Results In Line; Better Outlook Ahead.
Price targets by other brokers at BRC Asia Target Prices.
Listing of research reports at BRC Asia Analyst Reports.
Relevant links:
BRC Asia Share Price History,
BRC Asia Announcements,
BRC Asia Dividend Payout Dates & Corporate Actions,
BRC Asia News
