- 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.
- - Read this at SGinvestors.io -
- 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.
- - Read this at SGinvestors.io -
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.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
John Cheong UOB Kay Hian Research | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2024-02-29
Read also UOB's most recent report:
2024-04-01 CSE Global - Positive Move Of Share Placement To Finance Strategic Acquisitions.
Price targets by 2 other brokers at CSE Global Target Prices.
Listing of research reports at CSE Global Analyst Reports.
Relevant links:
CSE Global Share Price History,
CSE Global Announcements,
CSE Global Dividends & Corporate Actions,
CSE Global News Articles
