Silverlake Axis - Phillip Securities 2024-02-19: Quality Of Earnings Improving

• Silverlake Axis (SGX:5CP)'s 2QFY24 earnings of RM39.8mil met our estimates. 1HFY24 earnings were at 49% of our FY24e. The 5% y-o-y dip in earnings came from lower-than-expected non-recurring revenue and higher-than-expected operating expenses.
• - Read this at SGinvestors.io -
• Silverlake Axis's orderbook is at RM790mil (1QFY24: RM720-730mil) with the total deals pipeline at RM1.4bn. One imminent MOBIUS deal with a Thailand bank worth ~RM30mil.
• Maintain BUY with a lower target price of S$0.36. Our FY24e estimates remain unchanged.
• - Read this at SGinvestors.io -

The Positives

Recurring revenue rose 4% 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