Upbeat outlook for CTOS despite slow start to FY24

HLIB Research said core earnings fell 25% on the back of seasonality.

PETALING JAYA: CTOS Digital Bhd had a slow start for the financial year 2024 (FY24), dragged by seasonality and delayed projects, but analysts remain upbeat about stronger quarters ahead.

Hong Leong Investment Bank (HLIB) Research said CTOS’ first-quarter (1Q24) core profit ticked up only 3% year-on-year (y-o-y) despite revenue rising by 20%.