KUALA LUMPUR: ISF Group Bhd’s shares rose in early trade today following its wholly owned subsidiary Yeo Plumber Sdn Bhd’s four new contract wins, primarily from residential and data centre projects, with a combined value of RM22.48 million.
At 10.16 am, the company’s shares rose one sen to 45.5 sen, with 3.2 million shares traded.
Apex Securities Bhd said the awarded contracts are positive for the end-to-end piping solutions provider, demonstrating the group’s ability to secure projects across multiple segments, thereby enhancing earnings visibility through the financial year 2028 (FY2028).
In a note today, the brokerage firm said the contracts would contribute RM1.9 million, RM1.6 million and RM1.1 million in profit before tax for FY2026, FY2027 and FY2028, respectively.
"Execution risk is expected to remain manageable, supported by the group’s proven track record in delivering similar projects,” it said.
Apex Securities also maintained a "buy” call on ISF Group with an increased target price of 62 sen from 55 sen. - Bernama
