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Next QR ended 31/10/25 will be more reflective on the real impact of US tariffs as 19% tariffs only started wef 1/8/2025. Last QR tariffs only at 10% and possibility of front end top up orders holding up revenue although at compressed margins.
Earnings outlook bleak for the next 3 financial years due to margin compressions with key customers based in US. Low margin unable to adequately cover costs and expenses.
More importantly, can increased cost structure (high fixed costs) be in sync with lower projected revenue/margin in light of stiff competition within the industries ? Aggressive “newcomers” focussing on automations in view of increased labour costs and lower/reducing margins.
When global oil prices hover ~ USD60 only over a protracted period, outlook remains challenging and bleak for O&G sector. Cash flows and balance sheet must be strong to face this difficult period when global demand for oil still weak and supplies still ample.
