- Sheng Siong’s 3Q23 net profit of S$34.8m (+5.7% y-o-y) was in line with expectations, with 9M23 forming 72.9% of our full-year estimate. 3Q23 revenue rose 3.7% y-o-y, due to higher contributions from new stores and stronger comparable same-store sales.
- - Read this at SGinvestors.io -
- We are of the view that demand will remain resilient in the rising inflationary environment. Maintain BUY rating on Sheng Siong with target price: S$1.97.
3Q23 results in line with expectations.
- Sheng Siong Group (SGX:OV8) reported 3Q23 earnings of S$34.8m (+5.7% y-o-y, +8.1% q-o-q), in line with our expectation. The 9M23 PATMI accounts for 72.9% of our full-year estimate.
- - Read this at SGinvestors.io -
Stable margins despite rising costs.
- 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/ 2023-11-02
Read also UOB's most recent report:
2024-08-20 Sheng Siong - Record-High Gross Margin in 2Q24; More Stores Slated To Open.
Previous report by UOB:
2024-05-23 Sheng Siong - Solid Start To The Year; 1Q24 Results In Line.
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
