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ISDN Holdings Limited - 2Q18 results update(Image)

ISDN Holdings Limited - 2Q18 results update

1H18 performance smashes expectations

ISDN reported a strong set of results for 1H18 with PATMI growing by 113% from S$4.7m in 1H17 to S$10.1m in 1H18. The results far exceeded our expectations of S$12.7m for the full year. The positive performance was mainly driven by revenue growth of 17% year-on-year and a 0.9%-point improvement in gross margin. The former added S$4.2m to gross profit while the latter explained for S$1.4m of incremental gross profit. These gains led 1H18 PATMI to expand by S$5.3m year-on-year. Foreign exchange gain and other non-recurring gains of approximately S$1m helped to offset against higher operating expenses.

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