- 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 the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Glenn Thum Phillip Securities Research | https://www.stocksbnb.com/ 2023-11-20
Read also Phillip's most recent report:
2024-02-19 Silverlake Axis - Quality Of Earnings Improving.
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 Dividends & Corporate Actions,
Silverlake Axis News Articles
