- Pacific Radiance (SGX:RXS)'s FY24 adjusted PATMI was below our expectations at 65% due to upfront expenses on the accommodation barge. Revenue met our expectations.
- - Read this at SGinvestors.io -
- The turnaround was evident with 2H24 adjusted PATMI of S$3mil (2H23:-S$0.9mil). We expect a more significant recovery in FY25e when the accommodation barge becomes fully operational and the two CSVs are completed.
- A Pacific Radiance's dividends of 0.05 cents was announced, the first after 9 years.
The Positive
Recovery in all divisions.
- - Read this at SGinvestors.io -
- More OSVs are coming for repairs due to its faster turnaround time. Ship management growth came from charter income from the new workboat and AHTS.
- Listed Indonesian associate Logindo has become profitable by deploying vessels in higher charter rate territories. There was a S$5.5mil writeback in 2H24 due to improved performance.
The Negative
Weaker gross margins.
- 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/.
Paul Chew Phillip Securities Research | https://www.poems.com.sg/ 2025-03-17
Read also Phillip's most recent report:
2025-08-27 Pacific Radiance - On Cruise Control.
Price targets by other brokers at Pacific Radiance Target Prices.
Listing of research reports at Pacific Radiance Analyst Reports.
Relevant links:
Pacific Radiance Share Price History,
Pacific Radiance Announcements,
Pacific Radiance Dividend Payout Dates & Corporate Actions,
Pacific Radiance News
