Silverlake Axis - Phillip Securities 2023-11-20: Earnings Hurt By Project-Related Revenue

• Silverlake Axis (SGX:5CP)'s 1QFY24 earnings of RM48.9mil were slightly above our estimates. 1QFY24 earnings were at 27% of our FY24e. The 15% y-o-y dip in earnings came from lower-than-expected project-related revenue and higher-than-expected OPEX.
• - Read this at SGinvestors.io -
• Orderbook is RM720mil-730mil with the total deals pipelineat RM1.8bn. One new Indonesian bank secured for SIBS with two potential new banks to be secured in FY24.
• Maintain BUY rating on Silverlake Axis with an unchanged target price of S$0.38.
• - Read this at SGinvestors.io -

The Positives

Recurring revenue rose 12% y-o-y.

• Read more at SGinvestors.io.

Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Read also Phillip's most recent report:
2024-08-29 Silverlake Axis - Accept Cash Offer Of S$0.36.

Previous report by Phillip:
2024-05-16 Silverlake Axis - Higher OPEX Hurt Earnings.

Price targets by other brokers at Silverlake Axis Target Prices.

Listing of research reports at Silverlake Axis Analyst Reports.

Relevant links:
Silverlake Axis Share Price History,
Silverlake Axis Announcements,
Silverlake Axis Dividend Payout Dates & Corporate Actions,
Silverlake Axis News