Sheng Siong - RHB Invest 2024-04-26: Expect Firm Demand Ahead; Maintain BUY

• We remain upbeat on Sheng Siong (SGX:OV8) on the back of steady consumption demand and store opening opportunities. We expect tailwinds from strong SSSG over the Lunar New Year (LNY) festive period and recently issued Community Development Council (CDC) vouchers to Singaporean households to drive growth.
• - Read this at SGinvestors.io -

1Q24 earnings in line.

• Sheng Siong's 1Q24 revenue came in at S$376m (+6% y-o-y), while earnings rose 9% y-o-y to S$36m – within expectations. Revenue growth was largely led by SSSG, which surged 8% y-o-y, partly due to a longer run up to LNY this year on 10 Feb (as opposed to 22 Jan last year). Consequently, Sheng Siong was able to enjoy more days of heightened festive sales demand, which supported the higher SSSG.
• - Read this at SGinvestors.io -

Expect outlet opening to be robust.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2025-11-04 Sheng Siong - Store Count Outperforms; Stay BUY.

Previous report by RHB:
2025-10-29 Sheng Siong - Poised For Long-term Growth; Maintain BUY.

Price targets by 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