- CSE Global reported a superb 1H23 with PATMI surging 143% y-o-y to S$11m beating MIBG (S$9m) and consensus estimates. It also maintained an interim dividend of S$1.25 cents despite higher gearing.
- - Read this at SGinvestors.io -
- We expect CSE to secure S$900m of orders in FY23E and see more orders and better financial performance to come as the inflection point is finally here, in our view. CSE is our Top Pick in the space of Singapore small & mid cap stocks. Maintain BUY.
1H23 – robust performance
- - Read this at SGinvestors.io -
- EBIT almost doubled to 5.0% from 2.8% a year ago and we expect the improvement in net margins to continue. This is despite much higher interest expense of S$4.7m from S$1.9m a year ago due to the loans it took to complete the recent acquisitions.
- We expect a similarly strong 2H performance and CSE's margins to continue to expand.
More orders incoming
- Read more at SGinvestors.io.
