That said, the group’s revenue and patmi have been improving sequentially from the 1QFY2023 to 3QFY2023. In the 3QFY2023, Frencken’s net margin improved slightly to 3.9% from 3.8% q-o-q.
DBS Group Research analyst Ling Lee Keng has upgraded her call on Frencken to “buy” from “hold” after the group reported improving margins and outlook in its business update for the 3QFY2023 ended Sept 30.
For the three-month period, Frencken saw revenue dip by 5.6% y-o-y to $184.4 million while profit attributable to equity holders of the company (patmi) fell by 35.1% y-o-y to $7.1 million.
