The company's hydropower business in Indonesia generated higher revenue too of $32.5 million from just $5 million in the year earlier 1HFY2024.
ISDN Holdings' 1HFY2025 was hurt by forex losses, below the expectations of William Tng of CGS International. Nonetheless, with prospects of recovery seen in its underlying businesses, plus small caps as a whole enjoying higher valuations from the market boosting measures, Tng kept his "add" call and 44 cents target price on ISDN Holdings.
For the half year ended June, ISDN reported revenue of $212.9 million, up 22% y-o-y, led by both recovering industrial activity in China and Asean. If not for unfavourable forex, revenue would have gained by 27%.
