SIA Engineering’s operating performance also continued to improve as its operating losses narrowed to $3.0 million in 4QFY2023, compared to the $12.5 million in operating losses in 3QFY2023.
Analysts from UOB Kay Hian Research and DBS Group Research have maintained their “buy” rating for SIA Engineering (SGX:S59
) with unchanged target prices of $2.67 and $2.80.
In their report dated May 10, UOB Kay Hian analyst Roy Chen says that SIA Engineering’s FY2023 net profit of $66.4 million, which came in slightly down y-o-y at 1.8% lower than FY2022, was broadly in line with his expectation, forming 102% of his FY2023 forecast. The group's FY2023 ended in March.
