In a Monday report, analyst Edison Chen maintains the belief that the R&R segment could still pick up amidst what he observes to be early signs of upturn in the property market, where ISOTeam’s management is expecting new order winds to pick up with benefits starting next year.
SINGAPORE (May 15): UOB Kay Hian is maintaining its “buy” recommendation on Catalist-listed ISOTeam with a new target price of 54 cents, even as the group missed expectations with its latest 3Q17 results.
To recap, the service provider of repairs, maintenance and estate upgrading works reported a 31.2% decline in 3Q net profit as intensified competition caused contributions from the repairs & redecoration (R&R) segment to dip – leading to a 17.3% drop in group revenue to $16.5 million for the quarter.
