BRC Asia - Phillip Securities 2024-11-27: Top-line Headwinds But Recovery In Sight

• BRC Asia's FY24 revenue was below expectations, 90% of our FY24e estimates. An estimated 10% fall in steel prices and engineering delays, has caused slower progress in project completion.
• - Read this at SGinvestors.io -
• BRC Asia's order book increased 8% y-o-y to S$1.4bn (4Q24: $1.3bn), one of the highest recorded by the group.

The Positives

Strong order book, with visibility for up to five years.

• - Read this at SGinvestors.io -
• We believe orders will get a boost in FY25e from the expansion of the two integrated resorts and the commencement of Changi Airport Terminal 5 next year.

Higher dividends and payout ratio.

• Read more at SGinvestors.io.

Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Read also Phillip's most recent report:
2025-02-13 BRC Asia - Record Order Book.

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 Dividend Payout Dates & Corporate Actions,
BRC Asia News