- Dyna-Mac (SGX:NO4) posted another strong set of results in its 1Q23 business update, beating consensus estimates. Gross profit more than doubled to S$11.6m on the back of a 29.3% y-o-y increase in revenue to S$87.3m and improved profit margin.
- - Read this at SGinvestors.io -
- We expect Dyna-Mac's results to continue to improve in the coming quarters, backed by management’s strong execution ability and the FPSO upcycle.
Long-term fundamentals for the offshore O&G industry remain sound
- - Read this at SGinvestors.io -
- A significant part of this investment is expected to be directed into offshore projects. As such, Dyna-Mac is expected to enjoy sustained demand for its offshore product offerings, and has an attractive long-term growth profile.
- We also look favourably upon Dyna-Mac’s ability to secure new orders; on 11 May 2023, Dyna-Mac's announced that it had secured several firm contracts worth S$270m from repeat customers, bringing its net order book to S$608.1m, with deliveries stretching into 2025.
Staying niche and differentiated
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
Ada Lim OCBC Investment Research | https://www.iocbc.com/ 2023-05-12
Read also OCBC's most recent report:
2024-04-04 Dyna-Mac - Order Wins Galore.
Previous report by OCBC:
2024-02-26 Dyna-Mac - The Best Is Yet To Be.
Price targets by 2 other brokers at Dyna-Mac Target Prices.
Listing of research reports at Dyna-Mac Analyst Reports.
Relevant links:
Dyna-Mac Share Price History,
Dyna-Mac Announcements,
Dyna-Mac Dividends & Corporate Actions,
Dyna-Mac News Articles
