Brokers' take

SIlverlake Axis | Hold (downgraded) Aug 26 close: S$0.495 Target price: S$0.53 CGS-CIMB, Aug 24

SILVERLAKE Axis reported Q4 FY 2019 core net profit of RM57.4 million (S$19 million), a 58.2 per cent year-on-year (y-o-y) growth, on the back of 30.1 per cent y-o-y topline growth, which we attribute to stronger project-related revenue.

FY 2019 core net profit was in line with our expectations at 102 per cent of our previous FY 2019 forecast, but only came in at 94 per cent of Bloomberg consensus forecasts.