Canaccord says next two qtrs already look encouraging for Scidev

Scidev

18/04/2023 22:46

** Analysts at Canaccord Genuity say Q3 revenue of
Australia's Scidev Ltd  SDV.AX  was a 'touch below' expectations
but margins were impressive
    ** The environmental solutions provider on Tuesday posted a
Q3 revenue of A$21.1 million ($14.19 million), a 60% jump
compared with the same period last year
    ** Brokerage estimates FY23 revenue growth of 70% and EBITDA
growth of about 200% for co
    ** Maintains PT of A$0.54; keeps rating at 'Speculative Buy'
    ** Expects to see partial contribution for four new
contracts in the June quarter - so sees at least two 'solid'
growth quarters
    ** Again highlights co is on track to achieve close to A$100
mln in revenue in FY23 from about A$3 mln in FY19
    ** Stock has fallen 14.7% this year, as of last close

($1 = 1.4870 Australian dollars)
    

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))