- Sheng Siong (SGX:OV8)’s 1Q23 revenue fell marginally by 0.4% y-o-y to S$356.5m as sales continued to normalise with increased dining out and overseas travel. Comparable same store sales decreased 3.6% y-o-y in 1Q23 but were partially offset by a 3.6% growth from new stores.
- - Read this at SGinvestors.io -
On track to open 3-5 new stores each year
- As of 31 Mar 2023, Sheng Siong has 68 stores in Singapore and four stores in China. Sheng Siong opened one new store in 1Q23 in Singapore and its 5th store in Kunming, China recently.
- - Read this at SGinvestors.io -
Fair value estimate of S$1.94
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
Research Team OCBC Investment Research | https://www.iocbc.com/ 2023-05-02
Read also OCBC's most recent report:
2024-04-04 Sheng Siong - Store Opening Likely To Accelerate In FY24.
Previous report by OCBC:
2023-10-04 Sheng Siong Group - Staying Defensive.
Price targets by 4 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
