Sheng Siong Group - UOB Kay Hian 2023-11-02: 3Q23 Results In Line; Opportunities Arise With Steady Supply Of HDB Projects

Sheng Siong Group - 3Q23 Results In Line; Opportunities Arise With Steady Supply Of HDB Projects

Published:
Sheng Siong (SGX:OV8) | SGinvestors.ioSheng Siong (SGX:OV8)
  • 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:
2025-03-18 Sheng Siong - 2024 Impacted By Rising Costs; More Stores To Drive Growth In 2025..

Previous report by UOB:
2024-11-29 Sheng Siong Group - 3Q24 Another Solid Quarter; Steady Growth Ahead.

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






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