- 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.
- - Read this at SGinvestors.io -
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 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/.
John Cheong UOB Kay Hian Research | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2024-07-31
Previous report by UOB:
2024-04-24 Aztech Global - 1Q24 Earnings In Line; Robust Orderbook Drives Optimism.
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
