Sheng Siong Group - UOB Kay Hian 2023-03-01: 2022 Results In Line, Value-For-Money Appeals In 2023

Sheng Siong Group - 2022 Results In Line, Value-For-Money Appeals In 2023

  • Sheng Siong (SGX:OV8)’s 2022 net profit of S$137m (+0.4% y-o-y) was in line with expectations, forming 101% of our full-year estimates. 2022 revenue fell 2.2% y-o-y as demand continued to normalise from the easing of restrictions during the year. Meanwhile, gross margin improved 0.7ppt to 29.4% due to an improved sales mix.
  • - Read this at -
  • Maintain BUY recommendation on Sheng Siong with target price of S$1.91.

Sheng Siong's FY22 results in line with expectations.

  • Sheng Siong reported 2022 earnings of S$133.6m (+0.4% y-o-y), making up 101% of our full-year estimates.
  • - Read this at -
  • Comparable same-store sales declined by 4.8% y-o-y, partially offset by a 2.1% contribution from the full-year operations of five new stores opened in end-21 and 2022 in Singapore.

Marginally higher margins despite rising costs.

  •

Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @

John Cheong UOB Kay Hian Research | Heidi Mo UOB Kay Hian | 2023-03-01

Read also UOB's most recent report:
2023-11-02 Sheng Siong Group - 3Q23 Results In Line; Opportunities Arise With Steady Supply Of HDB Projects.

Previous report by UOB:
2023-07-31 Sheng Siong - 2Q23 Another Steady Quarter Despite Challenging Backdrop.

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


You May Also Like

SGX Stock / REIT Search


Most Read

Trust Bank God Of Fortune Referral Code PGKPSWAE Trust Bank Referral Code 🧧