ISOTeam: IReported a stellar 1HFY15 with net profit jumping 91.9% to S$4.1m and margins expanding to 10.4%. The repairs and redecoration segment contributed to 75% of overall revenue, with a 36.8% increase YoY (1HFY14: $21.4m; 1HFY15: $29.3m). The others segment, which includes the home retrofitting and green solutions businesses, saw the highest revenue growth among all segments, soaring 243.4% to $1.5m 1HFY15.
It has also secured another $24.8m worth of new orders, bringing its total orderbook to $104.5m as at May 2015. Lastly, ISOTeam has placed out 9m new shares @ $0.58/share to an institutional and several individual investors, rising $5.04m to find its capital expenditures, inorganic business expansion and general working capital.
RHB expects continued strong net profit growth with more wins in government projects, especially with the elections expected to be held in the near future. The house maintains its BUY rating with a TP of $0.82, up from $0.77.
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