Aztech Global - UOB Kay Hian 2024-02-26: 2023 Results Above Expectations; Raise Target Price By 13%

• Aztech’s 2023 net profit of S$100m (+48.8% y-o-y) is 5% above our estimated S$95m, driven by a 9% y-o-y growth in revenue. The higher sales volume of IoT devices led to the boost in 2023 revenue.
• - Read this at SGinvestors.io -

2023 earnings slightly above expectations.

• Aztech Global (SGX:8AZ)’s net profit of S$100m (+48.8% y-o-y) marginally beat our forecast of S$95m by 5%, supported by a 9.3% y-o-y growth in revenue to S$896.3m. This was mainly due to the increase in sales volume of IoT devices and data-communication products from higher customer demand.
• - Read this at SGinvestors.io -

Orderbook remains resilient; new customer acquisitions.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-04-16 Aztech Global - 1Q25 Significantly Below Expectations; Downgrade To SELL On Challenging Outlook.

Previous report by UOB:
2025-02-26 Aztech Global - 2024 Results Slightly Below Expectations; Outlook Remains Uncertain.

Price targets by 3 other brokers at Aztech Target Prices.

Listing of research reports at Aztech Analyst Reports.

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