- 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 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/ 2024-02-19
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 Dividends & Corporate Actions,
Silverlake Axis News Articles
