Brokers' take

ISOTeam | Buy (maintained) Aug 29 close: S$0.235 Target price: S$0.31 RHB Research Institute, Aug 29

ISOTeam's FY2019 revenue jumped 63 per cent year-on-year (yoy) to S$136.6 million from S$83.8 million on strong growth across all business segments. Profit after tax and minority interests grew to S$6.3 million from S$0.5 million.

Both Marina Bay Sands (MBS) and Resorts World Sentosa (RWS) will invest around S$9 billion to develop and rejuvenate their non-gaming components. We see ISOTeam as a beneficiary of their expansion programmes, given the acquisition of the project manager of MBS - Pure - as well as its track record in completing a series of food outlets and a nightclub worth S$46.5 million for the resort.