Sheng Siong Group - UOB Kay Hian 2023-05-09: Resilient Amid Volatile & High Inflation Environment

Sheng Siong Group - Resilient Amid Volatile & High Inflation Environment

Published:
Sheng Siong (SGX:OV8) | SGinvestors.ioSheng Siong (SGX:OV8)
  • Sheng Siong’s 1Q23 net profit of S$137m (+0.4% y-o-y) was in line with expectations, forming 24% of our full-year estimate. Revenue fell 0.4% y-o-y as demand continued to normalise from the easing of COVID-19-related restrictions. Gross margin improved 0.1ppt to 28.7% on a better sales mix.
  • - Read this at SGinvestors.io -

Sheng Siong's 1Q23 results in line with expectations.

  • Sheng Siong (SGX:OV8) reported 1Q23 earnings of S$33.4m (-5.2% y-o-y), accounting for 24% of our full-year estimate. Revenue fell slightly by 0.4% y-o-y, due to continued normalised demand.
  • - Read this at SGinvestors.io -

Stable margins amid continued rising costs; higher finance income.

  • Read more at SGinvestors.io.




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 @ https://www.utrade.com.sg/.




John Cheong UOB Kay Hian Research | Heidi Mo UOB Kay Hian | https://research.uobkayhian.com/ 2023-05-09



Read also UOB's most recent report:
2024-03-26 Sheng Siong - Gross Margin Expansion Continues; Brighter Store Opening Outlook Ahead.

Previous report by UOB:
2023-11-02 Sheng Siong Group - 3Q23 Results In Line; Opportunities Arise With Steady Supply Of HDB Projects.

Price targets by 2 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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