“The automation segment saw higher revenue contribution from control systems projects in the US market, while the communications segment revenue growth was largely driven by its new acquisition of subsidiary RFC Wireless,” writes Yeo.
RHB Group Research (RHB) analyst Aflie Yeo has maintained his “buy” call on CSE Global (SGX:544
) at an unchanged target price (TP) of 63 cents.
The group’s 1QFY2025 ended March 31 revenue of $205.5 million came in-line with Yeo’s expectations, with the 4% y-o-y growth led by by the automation and communications segments, which came in 9.6% higher y-o-y and 7.3% y-o-y more to $50 million and $58 million respectively, offset by the electrification segment’s lower revenue of $98 million which fell 4.1% y-o-y.
