Small Cap companies may, from time to time, announce interesting business developments that help to boost their business prospects. Investors should monitor for such news to sieve out exciting small cap stocks to dig deeper into.
These small cap stocks could form a potential buy watchlist that you can watch in 2024 for your investment ideas. Here are 3 exciting small cap stocks to watch in 2024.
Audience Analytics Ltd
Audience Analytics (AA) is definitely a small cap stock with a market cap of only S$56.7 million. Audience Analytics has a long history of creating content and brands.
AA is a leading regional business enabler in Asia. Through their proprietary suite of business intelligence and analytics products, including awards, trade and consumer exhibitions and conferences, the company partner with business owners to grow their businesses.
The company business is broadly categorised into the following segments: Business Impact Assessments, Exhibitions and Business Media & Analytics.
In its half year results ended 30 June 2023, revenue soared by 86.1% year-on-year, increasing from S$1.93 million to S$3.59 million with gross profit more than doubling in the same financial period.
Net profit increased by more than 8-fold from S$0.06 million to S$0.59 million due to operational efficiency and economies of scale. Going forward, the company firmly believe that businesses will see value in investing in brand building amid economic uncertainties.
The company products and service solutions are what these businesses would look for to enhance their brand value which will provide bright prospects for AA.
You can view the company website here.
ISEC Healthcare Ltd
ISEC Healthcare provides a comprehensive suite of specialist medical eye care services with ambulatory surgical centres in Malaysia, Singapore and Myanmar.
ISEC has a team of 30 doctors specialised in the fields of cataract and refractive surgery, vitreoretinal diseases, corneal and external eye diseases, glaucoma, uveitis, oculoplastics, facial cosmetics and aesthetics surgery, adult strabismus and paediatric ophthalmology.
In its third quarter results, revenue up 3% to S$18.1 million while net profit is up 6% to S$3.8 million. Balance remain strong as the company is in net cash position. The company did not declare any dividend for the third quarter 2023.
With an increasing aging population, demand for eyecare will increase and this will boost the demand for ISEC services in the future. You can view the company website here.
Oiltek International
Oiltek International (Oiltek) is a newly listed stock that was listed in Mar 2022. The company is an established integrated process technology and renewable energy solutions provider.
It specialises in the provision of comprehensive range of refinery processes and engineering solutions for use across all different sectors of the vegetable oils industry value chain globally.
With over 43 years of track record, Oiltek has successfully designed, built and commercialized plants in more than 33 countries across 5 continents. The Group operates three key businesses – Edible & Non-Edible Oil Refinery, Renewable Energy, and Product Sales and Trading.
In its first full year results as a listed company, the company presented a good set of results. Revenue is up 22.8% to RM201.1 million while net profit is up 50.9% to RM13.4 million.
The company has declared a final dividend of 1.6 Singapore cents which translate to 6.6% dividend yield. The company current order book
continues to remain high at approximately RM361.0 million, with new orders secured of approximately RM322.1 million in FY2023.
The present order book is expected to be fulfilled over the next 18 to 24 months. This bodes well for the company growth prospects going forward and is definitely one of the 3 exciting small cap stocks to watch in 2024. You can view the company website here.
Conclusion
These are the 3 exciting small cap stocks to watch in 2024. Investors need not always go for blue chip stocks to invest. There are definitely hidden gems in small cap stocks which may result in multi-bagger returns.
