Notably, the latter business segment saw a stronger 25.5% h-o-h as the industry staged a cautious recovery from the down cycle.
Following the release of ISDN Holdings’ FY2024 ended Dec 31, 2024 results, CGS International (CGSI) analyst William Tng is keeping his “add” call on the stock at a raised target price (TP) of 40 cents from 35 cents previously.
In the 2HFY2024, ISDN's revenue grew 15.5% y-o-y, driven by a recovery in all its business segments. The group’s key China industrial automation revenue, which makes up 71% of FY2024 revenue, grew 4.0% y-o-y, while the Southeast Asia industrial automation business grew 3.1% y-o-y.
