Home Capital Broker's Calls

CGS-CIMB lowers ISDN Holdings' TP to 70 cents to reflect China's Covid-19 lockdown

Felicia Tan
Felicia Tan6/15/2022 01:09 PM GMT+08  • 2 min read
CGS-CIMB lowers ISDN Holdings' TP to 70 cents to reflect China's Covid-19 lockdown
Teo Cher Koon, ISDN's managing director and president. Photo: Samuel Isaac Chua/The Edge Singapore
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

CGS-CIMB Research analyst William Tng has maintained his “add” call on ISDN Holdings even after the company’s revenue and net profit for the 1QFY2022 ended March both stood 10% below his expectations.

On June 10, ISDN reported revenue of $94.7 million for the quarter, down 3.8% y-o-y. The quarter’s earnings, however, increased by 5.8% y-o-y to $6.4 million.

The revenue miss was attributable to the Covid-19 lockdown measures in China. This was offset by better revenue in the other markets ISDN operates in.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now