Koda’s 2HFY2021 revenue grew 65% y-o-y to US$43.1 million, while earnings surged more than 20 times to US$4.3 million, driven by higher export sales especially to North America, increased contributions from retail and distribution and improved gross margins.
PhillipCapital analyst Vivian Ye has kept her “buy” call for furniture ODM manufacturer and brand owner Koda but with a lower target price of $1.10, after the company announced its 2HFY2021 ended June results on August 26.
Koda’s 2HFY2021 results beat Ye’s expectations, with full-year revenue and earnings amounting to 116% and 107% of her forecasts. “The outperformance came from higher-than-expected manufacturing sales,” she says in a August 30 research note.
