Japan Foods - RHB Invest 2023-12-08: Delayed Impact Of High Inflation; Downgrade To NEUTRAL

Japan Foods - Delayed Impact Of High Inflation; Downgrade To NEUTRAL

Published:
Japan Foods (SGX:5OI) | SGinvestors.ioJapan Foods (SGX:5OI)
  • 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



Previous report by RHB:
2023-09-05 Japan Foods - Facing Cost Pressure; Maintain BUY.

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





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