• Strong FY results, strengthening track record – INTLOOP’s FY7/25 results beat guidance for earnings, indicating the company’s success in driving margin expansion YoY by prioritising and securing high-margin projects and improving the sales mix. The earnings outlook remains positive, given the strong demand environment and the company’s initiatives to drive growth, chiefly 1) increasing capacity via recruitment and offshore development capabilities via M&A, 2) transforming the sales structure to target large customers, and 3) the spin-out of the Project Management Office (PMO) business division to enhance project execution capabilities. We have raised our earnings estimates for FY7/26 and beyond, reflecting a stronger and sustained growth trajectory than previously anticipated.
