- Sheng Siong’s 1H23 net profit of S$65.5m (-2.9% y-o-y) was in line with expectations, forming 48% of our full-year estimates. 1H23 revenue rose 2.0% y-o-y, due to higher contributions from five new stores.
- - Read this at SGinvestors.io -
- Maintain BUY. Target price: S$1.97.
1H23 results in line with expectations.
- Sheng Siong Group (SGX:OV8) reported 1H23 earnings of S$65.5m (-2.9% y-o-y), in line with our expectations. Revenue rose by 2% y-o-y, which was primarily led by higher contributions from five new stores opened in 2022 and 1Q23. Comparable same-store sales in Singapore fell by 1% y-o-y, offset by new stores contributing 3.3% y-o-y to total revenue.
- - Read this at SGinvestors.io -
Stable margins amid rising costs, interim dividend proposed.
- 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/ 2023-07-31
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 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
