Sheng Siong - RHB Invest 2023-01-26: Margin & Network Expansion To Drive Growth; Keep BUY

Sheng Siong - Margin & Network Expansion To Drive Growth; Keep BUY

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SHENG SIONG GROUP LTD (SGX:OV8) | SGinvestors.ioSHENG SIONG GROUP LTD (SGX:OV8)
  • We continue to like Sheng Siong (SGX:OV8) for its defensive features, strong cash flow-generating ability, net cash balance sheet, attractive dividend yields, and stable earnings driven by store network and margin expansion.
  • - Read this at SGinvestors.io -

Sheng Siong is still driving gross profit margin expansion.

  • Sheng Siong’s gross profit margin (GPM) expanded over the past 5 years, from 26% in 2017 to 30% in 3Q22. Bulk handing, tilting its sales mix towards fresh products, directly purchasing from sources, and the growth of its house brands (to a lesser extent) have all helped to drive GPM growth.
  • - Read this at SGinvestors.io -

Outlook for new supermarket outlets available for tender remains positive.

  • Read more at SGinvestors.io.





Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2023-01-26



Read also RHB's most recent report:
2023-10-27 Sheng Siong - A Positive Outlook; Maintain BUY.

Previous report by RHB:
2023-09-14 Retail Staples Sector - Still Defensive; OVERWEIGHT.

Price targets by other brokers at Sheng Siong Target Prices.

Listing of research reports at Sheng Siong Analyst Reports.

Relevant links:
Sheng Siong Share Price History,
Sheng Siong Announcements,
Sheng Siong Dividends & Corporate Actions,
Sheng Siong News Articles





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