Cheong notes that Civmec has built up an orderbook of A$1.2 billion, and is making improvements in efficiency.
UOB Kay Hian’s John Cheong has maintained his “buy” call on Civmec(SGX:P9D
) , along with a raised target price of $1.23 from $1.10, following the Australia-based company’s 9MFY2023 earnings.
For the three months to March, Civmec reported earnings of A$15 million, up 20% y-o-y, as it delivered higher margin projects.
