Revenue for the nine-month period rose 24.7% y-o-y to $264.0 million mainly due to continued strong demand for industrial automation from China, as well as growing demand from Southeast Asia including Singapore, Malaysia and Vietnam due to the reconfiguration in global industrial supply chains. The higher revenue was also attributable to increasing construction revenue from mini-hydropower plants in Indonesia.
CGS-CIMB analyst William Tng has maintained his “add” call on ISDN Holdings after the company reported 9MFY2020 earnings of $15.1 million on Nov 4, more than double its earnings of $7.3 million the year before.
Quarter-on-quarter, 3QFY2020 net profit fell 15.4% due to unrealised foreign exchange losses, while 3QFY2020 revenue rose 10.8% q-o-q.
