- Aztech (SGX:8AZ) reported 2Q24 revenue of S$244.6m, up 7.8% y-o-y and almost double from 1Q24 as the previous quarter was affected by a snowstorm. Net profit increased by 4.2% y-o-y to S$30.8m.
1H24 revenue a tad below expectations, earnings in line.
- - Read this at SGinvestors.io -
- Overall, Aztech's revenue and net profit for 1H24 account for 36%/41% of our forecast. Revenue is slightly below expectation but net profit in line. The split between 1H:2H is usually about 40:60.
Higher dividend declared.
- See Aztech's dividends. An interim dividend of 5 cents was declared, higher than the 3 cents in 1H23. This gives rise to a much higher payout ratio of 83% in 1H24, vs 54% in 1H23.
- - Read this at SGinvestors.io -
Commendable margins.
- 2Q24 net margin of 12.6% is a tad higher than 12.4% in 1Q24 but much stronger than the 11.2% in FY23. This achievement is mainly due to Aztech’s core strengths in R&D, design and engineering.
Increasing offerings to provide integrated manufacturing solutions.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Lee Keng LING DBS Group Research | https://www.dbs.com/insightsdirect/ 2024-07-31
Previous report by DBS:
2023-10-17 Aztech Global - Strong 3Q23; Stable Orderbook & Margins.
Price targets by 2 other brokers at Aztech Target Prices.
Listing of research reports at Aztech Analyst Reports.
Relevant links:
Aztech Share Price History,
Aztech Announcements,
Aztech Dividends & Corporate Actions,
Aztech News Articles
