- 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 an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ 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:
2024-11-29 Sheng Siong Group - 3Q24 Another Solid Quarter; Steady Growth Ahead.
Previous report by UOB:
2024-08-20 Sheng Siong - Record-High Gross Margin in 2Q24; More Stores Slated To Open.
Price targets by 3 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 Dividend Payout Dates & Corporate Actions,
Sheng Siong News
