The company, led by CEO Anthony Koh, attributes this to delays in revenue recognition, which caused an “abnormally” weak half-year. The company’s order book as at June was $181 million, somewhat lower than $193 million recorded as at the end of last June.
Earlier this year, ISOTeam was enjoying a wave of bullish calls from analysts, given how the company, best known for providing painting works for public sector clients, has convincingly put behind a recent rough patch.
However, the company’s recently reported 2HFY2025 ended June earnings generally came in below expectations. ISOTeam’s revenue and earnings fell 8.4% y-o-y to $119.2 million and 21% y-o-y to $5.1 million, respectively.
