ISOTeam: (S$0.42) FY16 results disappoint but remain beneficiary of higher public spend
- FY16 results missed estimates with FY16 net profit of $9.2m (+13.6%)
- Revenue climbed 15.3% to $94.1m
- Gross margin expanded to 25.7% (+1 ppt) on the shift in its sales mix
- First and final DPS was raised to 0.75¢ from FY15’s 0.575¢ (adjusted for a 1:1 bonus in Feb ’16)
- Trading at 10.2x forward P/E based on FY17e net profit forecast of $11.7m
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