Aztech Global - UOB Kay Hian 2024-07-31: 2Q24 Results In Line; Higher Dividend A Positive Signal

• Aztech Global (SGX:8AZ)’s 2Q24 net profit of S$31m (+4% y-o-y; +94% q-o-q) is largely in line, bringing 1H24 to form 42% of our full-year estimate. 1H typically forms around 40% of full-year earnings.
• - Read this at SGinvestors.io -

Orderbook remains healthy.

• Aztech's orderbook fell 33% to S$304m as at 30 Jul 24 vs S$456m as at 23 Apr 24. Order lead time has normalised to around three months after the COVID-19 pandemic, and majority of the orderbook is scheduled for completion in 2024.
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Higher interim dividend of 5.0 cents proposed

• Aztech also declared a dividend of 5.0 cents per share, a 67% increase from 3.0 cents per share in 1H23. This amounts to S$39m or about 83% payout ratio (vs 54% in 1H23). See Aztech's dividend dates.
• To recap, Aztech targets at least 30% dividend payout ratio.

Cautiously optimistic on 2024 business outlook.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-04-16 Aztech Global - 1Q25 Significantly Below Expectations; Downgrade To SELL On Challenging Outlook.

Previous report by UOB:
2025-02-26 Aztech Global - 2024 Results Slightly Below Expectations; Outlook Remains Uncertain.

Price targets by 3 other brokers at Aztech Target Prices.

Listing of research reports at Aztech Analyst Reports.

Relevant links:
Aztech Share Price History,
Aztech Announcements,
Aztech Dividend Payout Dates & Corporate Actions,
Aztech News