- Food Empire (SGX:F03) will report 1Q23 earnings on 12 May 2023 after market hours and we expect revenue of US$86.7m (+5% y-o-y) and NPAT of US$11.2m (+22% y-o-y). This should be driven by strong demand, especially in its core markets of Russia and Vietnam.
- - Read this at SGinvestors.io -
- With a positive 1Q23E ahead and an undemanding valuation, we maintain BUY rating on Food Empire with an unchanged target price of S$1.29, based on 11x FY23E P/E.
1Q23E should show strong NPAT growth
- We expect Food Empire to show further strong NPAT growth of 22% y-o-y to US$11.2m 1Q23, especially given that the Russia/Ukraine war started in 1Q22 and hurt its operations. We expect demand to remain strong in Russia and the CIS region and strong growth from Vietnam.
- - Read this at SGinvestors.io -
Share buybacks to resume after blackout
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Jarick Seet Maybank Research | Eric Ong Maybank Research | https://www.maybank-ke.com.sg/ 2023-05-05
Read also Maybank's most recent report:
2024-08-14 Food Empire - Facing Headwinds; Downgrade To HOLD.
Previous report by Maybank:
2024-05-12 Food Empire - Revenue Growth Encouraging; Maintain BUY.
Price targets by 3 other brokers at Food Empire Target Prices.
Listing of research reports at Food Empire Analyst Reports.
Relevant links:
Food Empire Share Price History,
Food Empire Announcements,
Food Empire Dividends & Corporate Actions,
Food Empire News Articles
