- 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 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/ 2023-11-02
Read also UOB's most recent report:
2026-05-04 Sheng Siong Group 1Q26 - Scaling The Heartlands; Growth On Track.
Previous report by UOB:
2026-03-03 Sheng Siong - Growing Footprint & Market Share.
Price targets by 5 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
