For its 2HFY2025 ended June, Tiong Woon reported revenue of $164 million, up 14% y-o-y. However, earnings dipped by 4% y-o-y to $7 million on margin pressure and less favourable project mix.
Tiong Woon Corp, ranked as the 15th largest crane operator in the world, has reported FY2025 earnings in line with expectations. However, given how the company is incurring higher capex, which is weighing on near-term cash flow and gearing, Heidi Mo and John Cheong of UOB Kay Hian have downgraded the stock from "buy" to "hold".
Yet, given how Tiong Woon's share price has gained more than a third in the past six months, they have raised their target price to 73 cents from 64 cents previously.
