- BRC Asia reported higher 1HFY24 earnings of S$38.5m (+47.0% y-o-y), driven by increased contributions from the higher-margin steel fabrication segment and lower raw material costs. Facing favourable tailwinds, BRC Asia is expected to see earnings continue on an upward momentum going into 2HFY24.
- - Read this at SGinvestors.io -
Robust 1HFY24 results.
- BRC Asia (SGX:BEC) reported higher 1HFY24 revenue and PATMI of S$758.3m (+5.8% y-o-y) and S$38.5m (+47.0% y-o-y) respectively, forming 43.8% and 43.4% of our full-year estimates and in line with our expectations, given that 1H is historically a seasonally weaker half.
- - Read this at SGinvestors.io -
- For 2QFY24, revenue was softer (-4.4% y-o-y, -10.0% q-o-q) which we reckon was due to lower contributions from the lower-margin international trading segment. However, 2QFY24 gross profit (+33.9% y-o-y, +10.7% q-o-q) and net profit (+47.5% y-o-y, +24.7% q-o-q) surged from increased deliveries.
Higher interim dividend.
- 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/.
Llelleythan Tan UOB Kay Hian Research | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2024-06-12
Read also UOB's most recent report:
2024-12-05 BRC Asia - FY24 Soft Results In Line; Better Outlook Ahead.
Previous report by UOB:
2024-09-10 BRC Asia - Soft 3QFY24 Results; Expect A Strong Finish To FY24.
Price targets by other brokers at BRC Asia Target Prices.
Listing of research reports at BRC Asia Analyst Reports.
Relevant links:
BRC Asia Share Price History,
BRC Asia Announcements,
BRC Asia Dividends & Corporate Actions,
BRC Asia News Articles
