BRC Asia - UOB Kay Hian 2024-12-05: FY24 Soft Results In Line; Better Outlook Ahead

BRC Asia - FY24 Soft Results In Line; Better Outlook Ahead

Published:
BRC Asia (SGX:BEC) | SGinvestors.io
  • Despite its attractive 7.5% dividend yield, we opine that BRC Asia is fully valued at current levels.
  • Moving forward, a robust orderbook coupled with a potential recovery in the steel market bodes well for BRC Asia.

Results within our expectations...

  • - Read this at SGinvestors.io -
  • The slight underperformance in top-line revenue was largely due to a fall in steel prices (which have dropped around 10% year-to-date), coupled with engineering delays that have hindered project completion.
  • - Read this at SGinvestors.io -
  • Based on our estimates, without the one-off gain, BRC Asia's FY24 PATMI would have grown by 2-3% y-o-y. As a result, FY24 gross (+1.9ppt y-o-y) and PATMI margin (+1.6ppt y-o-y) were higher y-o-y.

…dragged by a weak quarter.

  • 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 Research | https://research.uobkayhian.com/ 2024-12-05



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





Advertisement

You May Also Like




SGX Stock / REIT Search

Advertisement

Most Read

Trust Bank Referral Code

Advertisement