- Downgrade Japan Foods (SGX:5OI) to NEUTRAL. Japan Foods’ 1HFY24 core earnings were well below our estimates amid elevated operating costs, which we expect to sustain in 2HFY24. We also remain cautious on the FY25 profit outlook.
- - Read this at SGinvestors.io -
Weak 1HFY24.
- Japan Foods’ 1HFY24 revenue of S$43m (+13% y-o-y) accounted for 51% of our estimates. Gross profit of S$36m (+12% y-o-y) was in line with our estimate. However, amid higher-than-estimated costs, core PATMI (excluding the one-off impairment expense) came in at S$872k (-60% y-o-y) vs our earlier full-year estimate of S$3m.
- - Read this at SGinvestors.io -
Operating costs to remain elevated.
- Read more at SGinvestors.io.
Shekhar Jaiswal RHB Securities Research | https://www.rhbgroup.com/ 2023-12-08
Read also RHB's most recent report:
2024-02-22 Japan Foods - 9MFY24 Numbers Remain Weak; NEUTRAL.
Price targets by other brokers at Japan Foods Target Prices.
Listing of research reports at Japan Foods Analyst Reports.
Relevant links:
Japan Foods Share Price History,
Japan Foods Announcements,
Japan Foods Dividends & Corporate Actions,
Japan Foods News Articles
