Results overview
*Operating profit derived after deducting COGS, Marketing and Distribution Expenses, General and Admin Expenses, Finance Costs
Bright spots
- Increase revenue in A&A, C&P and other business segments by 77%, 67% and 41% that picked up the slack for the fall in R&R segment
- First contract for HDB Improvement programme of $17.5m– higher profit margin job with usually bigger contract size
- Single largest renewable energy project at $6.3m
- Improved GP margin and largely consistent OP margin. Probably mean good cost control and effective integration of acquired businesses
Areas of Concern
- Big drop in R&R revenue, the main business segment.
- Still no announcement on major contract in Myanmar
- Shrinking new orders obtained in this half compared to previous result announcement although total order book at historical high
For ISOTeam, investors are looking at realisation of growth potential in the form of more contract wins translating into improving numbers. ......