- CSE's 2023 earnings of S$22.5m (+372% y-o-y) beat our expectations by 7%, backed by robust revenue growth and margin expansion. Final dividend was maintained, indicating a dividend yield of 6%, which paints a positive company outlook.
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- CSE expects to continue expanding its solution offerings while prioritising cash flow management. Maintain BUY with a 7% lower target price of S$0.57 (S$0.61 previously).
Expectations beat with improving margins.
- CSE Global (SGX:544)’s 2023 earnings surged to S$22.5m (+372% y-o-y), surpassing our expectations by about 7%. This was led by a substantial 30% y-o-y growth in revenue to S$725.1m, which was largely in line with our forecast.
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Final dividend maintained, offering 6% yield.
- Management has proposed a similar final dividend of 1.5 cents/share, bringing the total dividend to 2.75 cents/share (2022: 2.75 cents/share). This indicates a decent dividend yield of around 6% from current price and can be seen as a positive signal for its future outlook. See CSE's dividend dates.
Robust revenue growth across Electrification and Communications segments.
- Read more at SGinvestors.io.
