BRC Asia - UOB Kay Hian 2023-08-17: 3QFY23 Results In Line; No Near-Term Catalysts

BRC Asia - 3QFY23 Results In Line; No Near-Term Catalysts

Published:
BRC Asia (SGX:BEC) | SGinvestors.ioBRC Asia (SGX:BEC)
  • BRC Asia reported lower 9MFY23 (Oct 2022 to Jun 2023) earnings of S$48.8m (-19% y-o-y), dragged by lower delivery volumes and an unfavourable product mix.
  • 3QFY23 saw a better sequential recovery from the end of the Heightened Safety period. However, due to increased regulations, Singapore’s construction sector is facing a shortage of dormitory beds, affecting construction activities.
  • - Read this at SGinvestors.io -

Stable 3QFY23 results.

  • BRC Asia (SGX:BEC) reported 9MFY23 revenue and net profit of S$1,176.9m (-10.1% y-o-y) and S$48.8m (-18.9% y-o-y) respectively, forming 78.8% and 71.5% of our full-year estimates and in line with our expectations.
  • - Read this at SGinvestors.io -
  • On a sequential basis, 3QFY23 revenue and net profit surged by 22.4% q-o-q and 55.8% q-o-q respectively as construction activity surged from the Heightened Safety period coming to an end.

Margins unlikely to expand further.

  • 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/.




Llelleythan Tan UOB Kay Hian Research | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2023-08-17



Read also UOB's most recent report:
2023-12-12 BRC Asia - Strong Finish Exceeds Expectations; Upgrade To BUY.

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 Dividends & Corporate Actions,
BRC Asia News Articles





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